TOKYO, Nov 30 (Reuters) – Japan’s finance minister said on Sunday that recent erratic swings in the foreign exchange market and rapid yen weakening are “clearly not driven by fundamentals”.
“It’s our position to issue warnings against such matters,” Satsuki Katayama said on a Sunday morning talk show on Fuji Television.
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Markets last week had been looking out for intervention by Tokyo to shore up the declining yen, but the currency stabilised. On Monday, all eyes will be on a speech by Bank of Japan Governor Kazuo Ueda to see whether he signals a likely rate increase at the BOJ’s December meeting, which would help lift the currency.
Reporting by Mariko Katsumura; Editing by Sonali Paul
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