TOKYO —Japan's top currency-policy bureaucrat complained Friday about global investors treating the yen as a "flight-to-safety currency" during times of global economic distress.
"We don't think recent yen moves really reflect economic fundamentals," Takehiko Nakao, vice finance minister for international affairs, told Dow Jones Newswires in an interview Friday. There is an "element of speculation" behind it, he added.
Even so, the veteran finance official, who took over the powerful job steering Japan's global financial policies around two weeks ago, said the government has no plans to start a sustained intervention campaign to steer the yen to specific levels but ...
TOKYO —Japan's top currency-policy bureaucrat complained Friday about global investors treating the yen as a "flight-to-safety currency" during times of global economic distress.
"We don't think recent yen moves really reflect economic fundamentals," Takehiko Nakao, vice finance minister for international affairs, told Dow Jones Newswires in an interview Friday. There is an "element of speculation" behind it, he added.
Even so, the veteran finance official, who took over the powerful job steering Japan's global financial policies around two weeks ago, said the government has no plans to start a sustained intervention campaign to steer the yen to specific levels but ...
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