TOKYO: Japan’s Finance Minister Shunichi Suzuki said on Friday he would not rule out any options on currencies as the dollar broke above 148 yen to the dollar, warning against yen sell-offs that would hurt trade-reliant Japan.

Suzuki told reporters after a cabinet meeting he is closely communicating with currency authorities when asked about intervention to stem yen weakness.

Japan’s Suzuki: Not targeting absolute levels on FX intervention

Interventions Japan conducted last September and October had certain effects in the currency market, he said, and he would not rule out any options if currency volatility becomes excessive.

“We are closely watching currencies with a high sense of urgency,” Suzuki said.