(Bloomberg) -- Japan’s top currency official warned that authorities will consider all their options for the foreign exchange market and are ready to respond...
-- Japan ’s top currency official warned that authorities will consider all their options for the foreign exchange market and are ready to respond to any event after the yen fell to its lowest level versus the dollar since 1990.Chinese Cement Maker Halted After 99% Crash in 15 Minutes“Whether this involves currency intervention or not, we authorities are prepared for all situations all the time,” Vice Finance Minister for International Affairs Masato Kanda told reporters Thursday morning.
Japan intervened in markets three times in 2022 to prop up the yen after the currency weakened to 151.95 against the dollar. Tokyo spent more than $60 billion in that campaign, which was conducted largely without criticism from international allies including the US.Very few short-term funds were willing to chase the dollar higher against the yen by buying call options on the currency pair, due to concern Japan may intervene, traders said.
“We are judging a one yen move over night comprehensively, taking fundamentals into account. I cannot tell you if it’s excessive,” Kanda said. -- AustralianSuper, the country’s largest pension fund, plans to almost double its private equity assets over the next four years as deals pick up following a lull spurred by higher borrowing costs.
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