Japan's Finance Minister Warns on Yen Exchange Rate at G20 Meeting

On April 16, Jin10 reported that the Japanese yen has seen a slight recovery against the U.S. dollar following a new verbal warning issued by Japan's Finance Minister during the G20 meeting. After meeting with the U.S. Treasury Secretary, Japan's Finance Minister stated that the U.S. and Japan have agreed to enhance communication regarding foreign exchange rates. The yen has now moved away from the 160 level, which was considered a danger zone for intervention. According to Sony Financial Group analyst Junato Momito, any rise in the dollar against the yen during Thursday's trading is expected to be capped at 159.50, as traders await U.S. economic indicators, including initial jobless claims and industrial production data.