Reuters: London Despite rising on Monday, the yen was still close to a more than seven-month low after a government official stated that Japan was open to all possible options for suitably retaliating against excessive currency movements.
The striking difference between the Bank of Japan’s (BOJ) ultra-low rates and central banks worldwide, which have been sharply raising their interest rates, has put pressure on the yen in recent weeks.
As Vice Finance Minister for International Affairs Masato Kanda increased his cautions against recent yen depreciation that was “rapid and one-sided,” the yen rose 0.33% to 143.23 per dollar by 1210 GMT.