The yen slumped back past 150 per dollar again, raising the risk of government intervention in the currency market and piling pressure on the Bank of Japan to adjust monetary policy.
With another rout in US debt amplifying the yield gap to Japan, the currency on Thursday was trading well within the zone that saw authorities wade into the market last year. The weakness has also been noted by BOJ policymakers, who next week must decide whether to tweak policy that has weighed on the yen for years.
Finance Minister Shunichi Suzuki said he’s watching currency market moves with a continued sense of urgency — language that suggests a high level of concern while being in line with comments he’s made for some time.
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