The Japanese yen eased slightly on currency markets after hitting a high of JPY88.24 against the US dollar in New York trading 28 September. Japanese central bank governor Hirohisa Fujii said the bank may intervene to push the yen down. The yen declined against all major Asian currencies. Japan’s export-dependent economy favours a weaker yen. The yen has strengthened about 16 percent this year, making Japan’s exports more expensive. But the new Japanese government has said that a stronger yen favours Japanese consumers by making imports cheaper.

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