Japanese Finance Minister Taro Aso warned market players against pushing up the yen too much further, saying that its spike against the dollar overnight was “rough” and undesirable for the economy.
Aso said that while there was no immediate plan for G20 and G7 nations to take coordinated action against the current markets turmoil, global financial authorities were in frequent contact with each other on market developments.
“I would say they are rough, rather than rapid,” Aso told reporters after a cabinet meeting on Tuesday, when asked about the yen’s spike against the dollar in New York on Monday.
via CNBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Alfonso Esparza
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019