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Currencies

Japan Says It’s Ready to Intervene in Currency Markets 24 Hours a Day If Needed

The yen inched lower toward a key level against the dollar Monday, even as Japan’s top currency official warned that authorities stand ready to intervene in currency markets 24 hours a day if necessary. “If there are excessive currency fluctuations, it has a negative impact on the national economy," said Vice Finance Minister Masato Kanda. “In the event of excessive moves based on speculation, we are prepared to take appropriate action." Kanda was speaking as the yen traded ever closer to 160 to dollar and the weak point of 160.17...
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