Japanese officials worrying that the yen is sliding too fast are getting little traction.
The currency tumbled to 124.46 per dollar on Thursday, its lowest since 2002, even as Japan's Chief Cabinet Secretary Yoshihide Suga expressed concern about the sort of sudden exchange-rate moves the Group of 20 nations has said it would prefer not to see and Finance Minister Taro Aso today called recent movements in the currency "rough." Bank of Japan Governor Haruhiko Kuroda told CNBC that major currencies are in line with economic fundamentals.
"As agreed by the G-20, sudden moves in foreign-exchange markets are undesirable, and for the latest moves, we'd like to continue to monitor carefully," Suga told reporters in Tokyo when asked about the yen.
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