Tokyo-yen near its lowest level against the dollar in nearly a quarter century, but bank of japan governor Haruhiko Kuroda On Thursday he said he was unwilling to fight the market to push the Japanese currency higher.
“Any small rate hike is unlikely to prevent the yen’s depreciation,” Mr. Kuroda said at a news conference after the Japanese central bank renewed its commitment to lower interest rates. “If we only want to stop the yen from falling from interest rates, it has to be a huge increase, and it has the potential to do serious damage to the economy.”