TOKYO (Reuters) -Japan’s Finance Minister Katsunobu Kato said on Friday that its authorities have been alarmed over recent foreign exchange moves, after the yen fell to four-month lows against the dollar.
“As we have consistently stated, it’s important for currencies to move in a stable manner reflecting fundamentals. We have been alarmed over foreign exchange movements, including those driven by speculators,” Kato said at a press conference.
The yen fell to 150.89 per dollar on Friday, the lowest since March 28.
Bank of Japan Governor Kazuo Ueda said in a news conference on Thursday that current foreign exchange levels are unlikely to have an immediate major impact on its inflation outlook, a comment that currency traders perceive as the central bank’s tolerance to the yen’s current weakness.
(Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)
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