TOKYO (Reuters) – U.S. Treasury Secretary Janet Yellen said Japan has clarified its foreign exchange market intervention in 2022, Business daily reported on Saturday.
“The Japanese government explained to us that they were seeing volatility,” Yellen told the Nikkei, referring to Japan’s 2022 currency intervention.
“There have been some pretty big movements in a short period of time. Obviously not driven by fundamental changes,” Yellen told the Nikkei.
She spoke to the Nikkei in Brazil, where she attended a meeting of G20 financial leaders.
Japan made massive yen buying interventions in 2022 and 2024 as the currency’s excessive fall could hurt households due to more expensive imports.
