Japan's top currency diplomat Masato Kanda said Wednesday that the Finance Ministry will take "all possible steps" to curb excessive moves in the yen, without ruling out the possibility of intervening in the foreign exchange market.

Kanda, vice finance minister for international affairs, also told reporters after meeting with Bank of Japan and Financial Services Agency representatives, "It is obvious that speculative moves are behind the yen's depreciation."

His remarks came hours after the yen fell to a 34-year low against the U.S. dollar in Tokyo on Wednesday despite the BOJ's first interest rate hike in 17 years last week.

==Kyodo

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