Examples of Japanese yen banknotes are displayed at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about a new series of banknotes scheduled to be introduced in 2024, in Tokyo, Japan, November 21, 2022. REUTERS/Kim Kyung-Hoon/ File Photo
The MOF remained mum on the timing of the meeting as it calibrated the right moment. The announcement came less than an hour before the meeting began on Wednesday evening. News of the meeting triggered a sharp rebound in the yen from a 34-year low of 151.97 hit earlier on Wednesday. The dollar stood at 151.30 yen on Friday.The source denied a report by Reuters, which ran hours before the meeting, citing a senior Japanese official as saying there was no need to hold a three-party meeting. He said the meeting was an important venue to signal authorities' resolve to address excessive currency moves.
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