The yen briefly rose to a 14-year high against the dollar on Thursday but comments from top government officials reinforced traders’ views that there was little chance of immediate Japanese intervention in the currency market.
Hirohisa Fujii, finance minister, said “appropriate action” could be taken if currency moves were “abnormal”, but gave no hint of quick action to stem the fall of the dollar, which at one point dropped to Y86.30 against the yen.
