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Japan Update U.S. expresses sympathy

On Thursday, a day after he issued a call-up that might enrol 300,000 people, President Vladimir Putin escalated the war effort, which was felt throughout the country. (news 23 September 2022, shared)

United States was participating in Tokyo's first such operation in 24 years

However, the official refuted claims that the United States was participating in Tokyo's first such operation in 24 years, a dollar-selling and buying intervention.
A Treasury official wrote in an email, "We understand Japan's approach, which it states intends to minimise recent increased yen volatility.

The dollar hit its highest level since 1998 on Thursday in Tokyo trading, prompting Japan to launch a significant yen-buying operation.

The intervention briefly caused the U.S. dollar to drop by around 5 cents to the range of 140, but because Japan carried out the operation independently, its impact on reducing volatility may be limited.
The representative stated, "We weren't involved in the intervention. A representative of the European Central-Bank also denied involvement.

Shunichi Suzuki (the finance minister) had earlier declined to say if Tokyo had communicated with other nations on the action.

The dollar traded around 143 pence on Friday in London as opposed to 142.35-45 pence at 5 p.m. on Thursday in New York.

Indicating that Japan may once more enter the market if necessary, Prime Minister Fumio Kishida said on Thursday that his nation would "continue to take decisive steps against excessive currency moves."
On the fringes of the U.N. General Assembly in New York( Kishida stated) "We cannot ignore the continuous instability based on speculation."

The Bank of Japan's decision to maintain its ultra-accommodative monetary policy at a time when the U.S. Federal Reserve and central banks in many other nations are raising interest rates to combat inflation is the cause of the yen's decline since early March.

Japan last engaged in the currency market to purchase yen in 1998, when the economy of the nation was in a depression due to the increase in the consumption tax from 3% to 5%.

Update News=23 September 2022, shared