Japan Vows Effort to Maintain Orderly Yen Moves Amid US Rate Hike

Japan's government is committed to maintaining an orderly currency market despite the yen's recent slide. The currency fell to around 155.50 in Asia on Thursday, following the US Federal Reserve's interest rate hike on Wednesday.

Chief Cabinet Secretary Minoru Kihara stated that Japan will continue to communicate closely with the US Treasury Department to achieve this goal.

Japan and the US launched a joint yen-buying intervention on July 31, which pushed the yen off a 40-year low near 164. The government has vowed to take further action if needed to shore up the currency.