The Japanese government and the Bank of Japan said Friday they are concerned about the recent rapid weakening of the yen against the U.S. dollar. The expression of concern came after the yen briefly sank to a 20-year low in the mid-134 yen range on Thursday. The Japanese currency has dropped amid prospects for a divergence in monetary policy between Japan and the United States. The recent weak yen has become a headache for the resource-poor country as it inflates import costs for raw materials, including crude oil, that are surging following Russia’s invasion of Ukraine. Asked about the possibility of market intervention, Masato Kanda, vice finance minister for international affairs, told reporters that ‘every option’ will be considered. The dollar briefly weakened to a lower 133 . . .
Read more at english.kyodonews.net