India, Feb. 21 -- The Japanese yen weakened against other major currencies in the Asian session on Friday, after Japan's Finance Minister, Katsunobu Kato, said that increased long-term rates may put pressure on Japan's fiscal condition.
At a press conference, Kato stated, "As we have a high debt-to-GDP ratio, there is a risk of straining our policy costs," referring to the nation's overall debt, which is double that of its GDP.
In addition, speculations of a potential intervention to stop the increase in Japanese government bond (JGB) yields and weaken the JPY were fueled by Bank of Japan (BoJ) Governor Kazuo Ueda.
"We expect long-term interest rates to fluctuate to some extent," reflecting shifting market perceptions of Japan's economic...