Japanese’s chief currency official warned of “deep concern” over the yen’s weakness as traders weigh the risk of government intervention to arrest its slide.
Atsushi Mimura, Japan’s vice-finance minister for international affairs, called the yen’s moves “one-sided [and] sudden” after it weakened more than 1 per cent against the dollar since Friday.
The yen steadied on Monday at around ¥157.40 against the dollar on Monday. Against the euro, the yen traded close to the all-time low of ¥184.71 reached on Friday, shortly after the Bank of Japan raised interest rates.
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