LONDON—The Japanese yen jumped on Friday after the government and the central bank in a rare joint statement expressed concern about its recent slide to hit two-decade lows, while the dollar edged higher ahead of key U.S. inflation data.
After a meeting with his Bank of Japan (BOJ) counterpart, the country’s top currency diplomat Masato Kanda told reporters that Tokyo will take appropriate action as needed, a sign Japan may be edging closer to intervening in the market in a bid to arrest the yen’s declines.
The yen has been battered by traders wagering that the BOJ will stick with its ultra-accommodative policy stance just as the Federal Reserve and other central banks accelerate their tightening to tame soaring inflation….