Japanese Finance Minister Monitors Yen as it Falls Below 150 Against the Dollar

Yen tumbles to its lowest level since last year, sparking a watchful response from Finance Minister Shunichi Suzuki amidst rising global interest rates and discussions of possible yield cap adjustments by the Bank of Japan.

• Japanese Finance Minister Shunichi Suzuki warned investors against selling the yen as it fell beyond 150 against the dollar, maintaining a close watch.
• Suzuki expressed his concern observing the market moves with a sense of urgency. However, he refrained from making any comments about possible intervention.
• The value of yen falling below 150 against the dollar is considered as a danger zone by investors, as it may trigger intervention from monetary authorities.
• The last time the yen hit this low level was in October last year when Japan had intervened to support the currency.
• Amidst the instability in currency market, pressure is growing on the Bank of Japan to adjust its bond yield control in response to rising global interest rates. Possible changes to the existing yield cap are being considered ahead of next week's policy meeting.

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