TOKYO (Reuters) – U.S. Treasury Secretary Janet Yellen stated Japan had defined its intervention into the forex market in 2022, the Enterprise every day reported on Saturday.
“The Japanese authorities did clarify to us that they noticed volatility,” Yellen advised the Nikkei, referring to Japan’s foreign exchange intervention in 2022.
“There had been fairly giant actions in a brief time frame. Not, clearly, pushed by any elementary modifications,” Yellen was quoted as saying by the Nikkei.
She spoke to the Nikkei in Brazil the place she was attending a gathering of G20 finance leaders.
Japan carried out huge bouts of yen-buying intervention in 2022 and 2024 because the forex’s extreme fall may harm households due to costlier imports.