The yen remained hunkered just below the psychologically important barrier of 145 per U.S. dollar on Monday, while the dollar was on the back foot after U.S. economic data last week showed slightly easing inflation and consumer spending.
The yen weakened 0.09% to 144.45 to start the second half of the year, having lost 9% against the dollar in the first six months of the year.
Finance Minister Shunichi Suzuki said on Friday Japan would take appropriate steps in response to excessive yen weakening, in the latest comment from government ministers and officials."Intervention is best conceived of as an escalation ladder," said Marc Chandler, chief market strategist at Bannockburn Forex.
in the second quarter as easing supply constraints and the removal of pandemic curbs lifted factory output and consumption, a central bank survey showed, a sign the economy was on course for a steady recovery.will be on the minutes of the U.S. Federal Reserve's June meeting due on Wednesday.
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