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Japan Ramps Up Verbal Defense As Yen Sets Fresh 10-Month Low

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The yen pulled back from a 10-month low against the dollar after Japan issued its strongest warning in weeks over sharp currency moves, raising the odds of government intervention if the slump continues.

The nation’s top foreign exchange official said speculative moves could be seen in the market and warned that Tokyo was prepared to take action if needed.

“If these moves continue, the government will deal with them appropriately without ruling out any options,” Masato Kanda, vice finance minister for international affairs, said on Wednesday.

Read the full story on Bloomberg here.