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WASHINGTON -- Top finance officials from the U.S., Japan and South Korea expressed shared concerns over the recent weakness in the yen and the won at their first trilateral meeting Wednesday, vowing to maintain close communication over volatility in the currency market.
And President Xi Jinping might conclude that the yen’s drop affords China the geopolitical cover to engineer a weaker yuan.
The Bank of Japan (BoJ) raised interest rates for the first time in 17 years on March 19, bringing an era of negative interest rates to an end. The key rate was hiked from –0.1% to a band from zero to 0.1% – a token effort to offer some tightening after decades of loose but unsuccessful monetary policy.
TOKYO -- The yuan on Tuesday touched its strongest point against the yen in more than three decades as Chinese authorities stepped in to shore up the currency against an appreciating dollar.
TOKYO -- One of Japan's leading discount store operators is betting that consumers will continue to seek lower prices for everyday items, despite efforts by corporate businesses and the government to bring the country out of a deflationary mindset.
TOKYO (Reuters) -- Japanese Finance Minister Shunichi Suzuki on Thursday said authorities would not rule out any steps to deal with excessive exchange-rate swings.
TOKYO/NEW YORK -- The yen sold off against the dollar in New York trading Wednesday after the latest U.S. inflation data, creating the potential for the government to intervene as it did in 2022 to halt the decline.
TOKYO -- A flood of inbound tourists visiting Japan looking to take advantage of the weak yen has caused hotel room prices to spike to rarely seen heights, according to the latest industry data.