Yen dips after Japan's top finance diplomat says watching forex moves

Japanese Yen and US dollar banknotes are seen in this illustration taken on March 10.

PHOTO: Reuters

PUBLISHED ONMay 30, 2023 9:44 AM

LONDON - The yen softened slightly against the dollar on Tuesday (May 30) after Japan's top finance diplomat Masato Kanda said authorities were closely watching foreign exchange market moves, would "respond appropriately", but were not focussing on particular levels.

The dollar was last up 0.12 per cent on the day at 140.61 yen (S$1.36), having traded slightly lower immediately before Kanda's remarks.

Kanda was speaking after a meeting involving top officials from the Ministry of Finance, Bank of Japan and the financial watchdog.

The dollar had hit a six-month high at 140.93 before the meeting was convened.

ALSO READ: Japan's yen jumps on suspected Bank of Japan intervention, fails to keep gains

Source: Reuters

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