Japan boosts intervention war chest to curb yen

Japan’s finance minister said on Friday the government will secure an additional 15 trillion yen in funds for currency market intervention, as it looks to boost its ability to tame the yen.

Jun Azumi added that the finance ministry will require currency traders to report daily their trading positions for another three months beyond the end of September in an effort to deter speculative moves.

Japan will boost the size of its intervention funds by 15 trillion yen ($195.79 billion) to "flexibly" respond to the yen’s upward trend, Azumi said, adding that its current strength threatened Japan’s recovery.

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