Japanese government committed to take action to handle 'rapid, one-sided' yen changes

According to the statement made by Seiji Kihara, Deputy Chief Cabinet Secretary, the government is determined to act firmly to address the situation with the rapid changes in the yen exchange rates.

Kihara expressed his concern over the nature of said changes, calling the registered moves  'rapid and one-sided', and spoke about the intention of the country’s headship to act firmly in case such moves continues.

Seiji Kihara declined to comment on certain attitudes of some market participants when asked about a potential yen-buying intervention.

The weakening of the national currency, which was initially perceived from a positive side as being a tool for expert strengthening, is now becoming a problem for the Japanese government due to the effect it has on the already expensive import of fuel and resources.