© Reuters. FILE PHOTO: Japan’s Finance Minister Shunichi Suzuki speaks at a news conference after Japan intervened in the currency market for the first time since 1998 to shore up the battered yen in Tokyo, Japan September 22, 2022. REUTERS/Kim Kyung-Hoon
TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki on Monday declined to confirm whether the government had intervened in the currency market on Friday, when the dollar plunged more than 7 yen at one point in what sources said was caused by authorities’ yen-buying action.
“We absolutely cannot tolerate excessive moves in the foreign exchange market based on speculation,” Suzuki told reporters at the finance ministry.