Japan to Step in if the Yen Gets Stronger and Hurts Export Revenues
Arslan Butt • 1 min read
Japan’s vice finance minister for international affairs Yoshiki Takeuchi has cautioned against investors driving up the value of the yen over an increased demand for safe haven assets. While addressing reporters, he remarked that the government could step in to prevent the Japanese yen from getting stronger as it could hurt the country’s export-oriented economy.
According to Takeuchi, “It’s necessary to take action based on the G7 and G20 agreement if currency moves have a negative impact on the economy and financial markets.”
Takuchi’s statements followed a meeting among senior officials at the Ministry of Finance, BOJ, and Financial Services Agency, which was convened to discuss ramifications of the US-China trade war on Japan’s economy.