🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Japan finmin: no change in buying of US Treasuries

Published 03/24/2009, 11:10 PM
Updated 03/24/2009, 11:16 PM

TOKYO, March 26 (Reuters) - Japanese Finance Minister Kaoru Yosano said on Wednesday that Japan does not plan to change its policy of investing a majority of its foreign reserves in U.S. Treasuries. Yosano also told the lower house financial committee that the Japanese government does not have any room for taking extraordinary steps in purchases of U.S. Treasuries.

His remark comes amid rising concerns that record government spending in the United States and large liquidity injections by the U.S. Federal reserve will create a global glut of dollars and shake the dollar's status as the world's main reserve currency. Yosano also said he does not think it was appropriate to sell part of Japan's foreign reserve assets in the market.

"Under the current situation, I do not think selling foreign reserves in the market is not appropriate as it would could cause unexpected movements in the currency markets," he said.

He was answering questions from a lawmaker of the main opposition Democratic Party of Japan, who urged the government to reconsider the amount of foreign reserves it holds from the view point of its exposure to exchange rate changes.

Japan's official foreign reserves stood at $1.009 trillion at the end of February, the second-largest in the world after China, government data showed earlier this month. (Reporting by Yuzo Saeki)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.