“The Japanese government did explain to us that they saw volatility,” Yellen told the Nikkei, referring to Japan’s forex intervention in 2022.
“There had been quite large movements in a short period of time. Not, obviously, driven by any fundamental changes,” Yellen was quoted as saying by the Nikkei.
She spoke to the Nikkei in Brazil where she was attending a meeting of G20 finance leaders.
Japan conducted massive bouts of yen-buying intervention in 2022 and 2024 as the currency’s excessive fall could hurt households because of costlier imports.
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