Japan's finance minister sees 'speculative' moves in currency market

© Reuters. FILE PHOTO: Banknotes of Japanese yen are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration/File PhotoTOKYO - Japanese Finance Minister Shunichi Suzuki said on Monday there were some speculative moves in the currency market that did not reflect economic fundamentals, repeating his warning against excessive yen declines.

Suzuki said various factors are driving currency moves such as the Bank of Japan's decision to end negative interest rates, Japan's current account balance, price moves, geopolitical risks, as well as market players' sentiment and speculative trades. The yen touched a 34-year low against the dollar of 151.975 last week and was fetching 151.315 per dollar on Monday morning.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

Source: News Formal (newsformal.com)

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