Tokyo will respond vs excessive moves, says govt spokesperson
Yen off lows after top currency diplomat Kanda39;s warning
Expectations of slow BOJ rate hike to weigh on yen analyst

TOKYO, March 28 Reuters Japan continued its jawboning on Thursday to stave off further yen declines, with the government39;s top spokesperson renewing a warning that Tokyo would not rule out any options to counter excessive currency moves.

Chief Cabinet Secretary Yoshimasa Hayashi did not specify whether the options included yenbuying intervention, saying only that authorities were watching currency moves with a high sense of urgency.

If there are excessive moves, we39;d like to respond appropriately and won39;t rule out any options, Hayashi told a regular news conference.

His remarks echoed those made by Japan39;s top currency diplomat Masato Kanda on Wednesday that authorities would not rule out any steps to counter disorderly currency moves.

The yen fell to a 34year low against the dollar on Wednesday on expectations that the Bank of Japan BOJ will go slow in raising interest rates, thereby maintaining the huge gap between Japanese and U.S. interest rates.

The dollar briefly hit 151.975 yen on Wednesday, exceeding the 151.94 level at which Japanese authorities stepped in during October 2022 to buy the currency. It lost some ground to stand at 151.370 yen on Thursday.

The yen39;s sharp declines come despite the BOJ39;s decision last week to end eight years of negative interest…