(Bloomberg) — The yen weakened to a 10-month low against the dollar even after Japan issued its strongest warning over sharp currency moves in weeks, raising the odds of government intervention if the slump continues.
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The nation’s top currency official said speculative moves could be seen in the foreign exchange market and warned that Tokyo was prepared to take action if needed.
“If these moves continue, the government will deal with them appropriately without ruling out any options,” said Masato Kanda, vice finance minister for international affairs.
While the comment briefly pushed the yen to 147.37 against the dollar as traders weighed the risk of Tokyo intervening in the market for the first time since October last year, the greenback regained ground to hit 147.82.
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