Yen slips to 34year low at 151.97 per dollar
Finmin Suzuki says authorities could take 39;decisive steps39; Phrase was used ahead of previous intervention in Oct 2022
Analysts warn yen weakness in yen risks domino effects

TOKYO, March 27 Reuters Japan39;s finance minister issued his strongest warning to date on Wednesday about yen weakness as it fell to a 34year low against the dollar, saying authorities could take decisive steps, language previously used before intervention.

Shunichi Suzuki previously used the phrase decisive steps in autumn 2022 when Japan last intervened in the market to stem weakness in its currency.

Suzuki made the remarks on Wednesday shortly after the dollar spiked on strong U.S. data, nudging the Japanese yen to a 34year low and into the zone that triggered official market intervention a yearandahalf ago.

The yen traded at 151.97 per dollar in the Asia session, down about 0.2 and weaker than 151.94 where Japanese authorities stepped in during October 2022 to buy the currency.

It hit the weakest level since the middle of 1990, around the time Japan39;s asset bubble burst, which was followed by decades of economic stagnation.

Markets are I suppose, gingerly testing to see where39;s the line for Tokyo, said Christopher Wong, a currency strategist at OCBC in Singapore. I think that the risk of intervention is quite high, because this is a new cycle high. And given the warnings so far, I think that if Tokyo does not act, it39;s just going to…