The yen fell on Monday to near eight-month lows against the dollar with investors saying intervention was in sight, while ahead of the 4 July holiday, the dollar edged up after U.S. economic data last week showed slightly easing inflation and consumer spending.
The yen weakened 0.35% to 144.82, after on Friday touching its lowest level against the greenback since November. It 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. Japan bought yen in September, its first foray in the market to boost its currency since 1998, after a Bank of Japan decision to maintain ultra-loose policy drove the yen as low as 145 per dollar.Still, Japanese business sentiment
The central bank decided to leave interest rates unchanged in its June meeting but hinted that borrowing costs may still need to rise by as much as half of a percentage point by the end of the year.
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