Japan ready to intervene in FX markets, finance ministry says

Top currency official issues warning as yen hits 34-year low against dollar

Japanese banknotes

Japan’s top currency official said today (June 24) that authorities are ready to intervene as the yen hovered around a 34-year low against the dollar.

“Excessive fluctuations negatively affect the economy,” Masato Kanda, finance vice-minister for international affairs, told reporters. “We are ready to take appropriate action at any time,” he said, adding the central bank was prepared to intervene 24 hours a day.

Finance minister Shunichi Suzuki echoed Kanda’s comments, saying the government was

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