A sharp drop in the value of the yen is fuelling speculation among investors that Japanese authorities are preparing a “summer sequel” of massive market intervention to support the currency.
Finance minister Shunichi Suzuki said on Tuesday that the authorities were watching market moves “with a strong sense of urgency” and would “respond appropriately” if the drop became excessive.
A day earlier, Japan’s top currency diplomat Masato Kanda responded to reporters’ questions on the likelihood of intervention by saying he would not rule out any options.
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