Concerned by the swift depreciation of the yen, the Japanese government is closely monitoring foreign exchange alongside the BOJ

Image: Reuters Berita 24 English -  According to Chief Cabinet Secretary Hirokazu Matsuno on Thursday, the Japanese governmen t is worried a...

Image: Reuters

Berita 24 English -  According to Chief Cabinet Secretary Hirokazu Matsuno on Thursday, the Japanese government is worried about the recent steep drops in the value of the yen and will closely coordinate with the Bank of Japan to monitor the currency market with even greater urgency.

The senior government spokesperson for Japan, Matsuno, reiterated remarks made previously by a number of influential policymakers when he said, "We are concerned about the yen's fast falls seen in the foreign exchange market recently."

Regarding currency interventions, he made no remarks.

In addition, Matsuno stated that Japan would continue to watch the effects of US monetary policy adjustments and inflation trends on the Japanese and global economies at a routine news conference.

Matsuno was responding to a reporter's query regarding the yen's drop on Thursday morning to the 138 yen per U.S. dollar levels for the first time since September 1998, following the U.S. annual consumer prices posting the largest increase in more than four decades, which sparked concerns the Federal Reserve may hike interest rates even more aggressively than previously anticipated.

At its upcoming meeting on July 20-21, the Bank of Japan is anticipated to retain its ultra-low interest rates, reflecting a growing divergence with a global wave of rate-hiking central banks that has spurred the decline of the yen.