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**Japanese Finance Minister Vows to Take Action on Currency Moves**

In an announcement on Tuesday, Japanese Finance Minister Shunichi Suzuki reiterated the government’s commitment to take all necessary steps to address currency fluctuations. Suzuki emphasized the undesirable nature of excessive swings and pledged to respond accordingly to mitigate their impact.

Suzuki’s comments come in the wake of concerns about the weakening yen and its repercussions on households. With rising living costs due to increased import prices for fuel and food, many families are feeling the pressure. The Japanese currency has reached a near 152 yen versus the dollar, marking its lowest point in over a year. While the depreciation is advantageous for exporters and businesses operating abroad, it poses challenges for other companies and consumers facing elevated import expenses.

The Finance Minister stressed the importance of optimizing the positive effects of the weak yen while alleviating the associated drawbacks. He acknowledged the government’s ongoing efforts to alleviate the strain on households through an economic package proposed for the fiscal year ending in March 2024.

Despite these measures, Suzuki refrained from mentioning any additional steps, including the possibility of Japan intervening in the currency market. The last time Japan engaged in such intervention was in October of the previous year when the authorities sold dollars and purchased yen. However, no further intervention has occurred since then, according to the latest data.

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