US EditionJapan PM Talks up Weak Yen Even as Her Government Works to Counter Currency Decline
- On Sunday, Prime Minister Sanae Takaichi clarified she did not favour a yen direction, saying, `I did not say which is better or worse- a strong yen or a weak yen` and aims for economic resilience.
- During her campaign speech, Takaichi said the yen's depreciation has helped exporters and increased returns in the Foreign Exchange Fund Special Account.
- Market participants noted the yen spiked three times after reports the New York Federal Reserve and Japanese authorities queried banks, signaling possible intervention readiness.
- The government said it is closely monitoring foreign exchange developments, while Prime Minister Sanae Takaichi refrains from specific market comments, contrasting Finance Minister Satsuki Katayama's repeated threats amid 18-month lows.
- Takaichi is seeking a mandate for her reflation mission in the snap election on February 8, while former prime minister Yoshihiko Noda warned a weak yen hurts households reliant on imports.
18 Articles
18 Articles
The yen weakened against the dollar in the Tokyo foreign exchange market on the morning of the 2nd, briefly hitting the mid-155 yen range, down about 1.50 yen from the evening of January 30th. Prime Minister Sanae Takaichi's remarks in a speech signaled to the market that the yen was tolerant of a weaker yen.
Japan’s Takaichi seeks mandate, improved majority with snap election: poll
Japan’s ruling Liberal Democratic Party, led by Prime Minister Sanae Takaichi, has extended its lead from last week in a new poll on the race ahead of the February 8 election, with 36.1 per cent backing the party, up 6.9 percentage points, the survey showed on Sunday. The Centrist Reform Alliance, a new major opposition force, was second with 13.9 per cent, up 2.0 points. At the single-constituency level, the survey conducted over two days from …
Tokyo. Japanese Prime Minister Sanae Takaichi cited some advantages of a weaker yen on Saturday, in stark contrast to the Ministry of Finance’s threats to intervene to support the currency.
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