The government is stepping up its monitoring of speculative moves in the currency market as the yen is showing “volatile” movement, Finance Minister Jun Azumi said Friday, hinting intervention hasn’t been ruled out if the currency gets too strong.
Azumi also voiced his disappointment that Greece has to hold a second general election within two months, an event widely seen as a de-facto referendum on whether the country will remain in the eurozone. Uncertainty over the single-currency bloc has again caused aggressive buying of the yen as a safe-haven asset.
Excerpt from: Azumi jawbones yen ‘speculators’ and won’t rule out intervention
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