By Megumi Fujikawa
TOKYO--Japan's Finance Minister Shunichi Suzuki on Friday voiced concerns over the yen's weakness but declined to comment on whether the government intervened to prop up the yen on Thursday.
"Rapid changes [in foreign exchange rates] are not desirable. I am especially concerned about one-sided moves," Suzuki said at a news conference.
The Japanese currency surged by around four yen against the dollar during Thursday's New York trading session, leading to speculation about possible currency intervention.
Analysts also said that weaker-than-expected U.S. inflation data released Thursday raised the prospect of Federal Reserve rate cuts, causing the dollar to fall against the yen and other currencies.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
(END) Dow Jones Newswires
07-11-24 2233ET
