Japan's FX Chief Warns No Options Ruled Out After Yen Slide.

Japan's top currency official, Masato Kanda, has warned that authorities are prepared to consider all options for the foreign exchange market after the yen fell to its lowest level against the dollar since 1990. The yen's decline was triggered by stronger-than-expected US inflation data, which pushed back expectations for rate cuts by the Federal Reserve. Japanese officials have stated that they are not defending specific yen levels but are monitoring for excessive movements in the market. Japan intervened in the market three times in 2022 to support the yen, spending over $60 billion in the process. [Extracted from the article]