Finance
Japan prepared to take necessary steps on forex moves: finance chief
Japan is prepared to take all necessary steps to counter excessive volatility in the currency market, Finance Minister Shunichi Suzuki said Tuesday, the latest in a series of verbal warnings as the yen continued to tumble, dropping past 154 against the U.S. dollar to a 34-year low.
Suzuki said the government is keeping close tabs on developments in the currency market but declined to say whether the yen’s recent fall was rapid and volatile, an assessment that could trigger another market intervention to slow its decline.
Japanese authorities have repeatedly warned that they would act if needed, keeping financial markets on edge over the possibility of another yen-buying, dollar-selling intervention.
The yen has already weakened past the level at which Japan previously intervened in October 2022, when it inched near the 152 level.
Still, Suzuki did not ratchet up his warnings on Tuesday and stuck to the same language in describing Japanese authorities’ concern. He did not use expressions like “decisive” action that would signal that a market intervention is imminent.
“We are closely watching market developments and we are prepared to take all necessary steps if needed,” Suzuki said at a press conference.
“With respect to whether the recent moves are excessive or rapid, I don’t think it’s appropriate to state our view because this is linked to our position to take all necessary steps.”
The dollar has strengthened as the U.S. Federal Reserve is no longer expected to start cutting interest rates as soon as June, following stronger-than-expected economic data.
Despite a recent rate hike by the Bank of Japan, the interest rate differential between Japan and the United States remains wide, making the yen less appealing.
Monday’s release of forecast-beating U.S. retail sales data sent the dollar above 154 yen, meaning it has gained about 3 yen in April. Heightened tensions in the Middle East have sent oil prices higher on supply concerns while boosting the dollar.
Japan’s top government spokesman Yoshimasa Hayashi also declined to comment directly on the possibility of market intervention.
“It’s important that foreign exchange moves are stable, reflecting fundamentals. Excessive fluctuations are not desirable,” said Hayashi, who serves as chief Cabinet secretary.
The dollar was trading in the lower 154 yen zone after the Japanese officials’ comments, within sight of the psychologically important 155 line.
A weak yen boosts Japanese exporters’ overseas profits in yen terms but inflates import costs for Japan, which relies heavily on foreign energy and other resources.
The dollar’s strength against the yen and other currencies comes as the finance chiefs of the Group of 20 major economies are scheduled to gather in Washington this week.
A strong dollar can trigger capital flight from emerging economies.
The G20 has taken the view that volatile and disorderly movements are not desirable because they negatively affect economic and financial stability.
Suzuki said he plans to explain Japan’s stance on currency policy if such opportunities arise, without elaborating.
The finance chiefs of the Group of Seven countries are also planning to meet in the U.S. capital on the fringes of gatherings hosted by the International Monetary Fund and World Bank.
The G20 includes the G7 members — Britain, Canada, France, Germany, Italy, Japan and the United States plus the European Union — along with Brazil, China, India and Russia among others.
Related coverage:
Yen sinks to 154 range vs dollar for 1st time in 34 years
Japan to take all necessary steps amid yen’s fall: finance chief
Harley-Davidson’s new CEO wants to transform how people think about the iconic motorcycle brand, so the company is trying something different.
This week, Harley announced a new strategy that focuses on lower-priced bikes, rather than relying on older, more affluent customers to buy its higher-margin touring models.
“Back to the Bricks builds on our core strengths and competitive advantages, harnessing the passion of our riders to deliver profitable growth for the Company and both our dealers and shareholders,” Harley CEO Artie Starrs said this week. “As we drive towards this new phase of growth, we remain committed to the craftsmanship and dedication that define our brand.”
Entry-level Harley-Davidsons cost about $13,000, while the higher-end Adventure Touring models average about $23,250, and the Premium Range &CVO models cost about $38,500, according to Reuters.
Harley’s new strategy targets a core profit of over $350 million from its motorcycle business by 2027 and over $150 million in cost reductions.
To kick off the new strategy, Harley is introducing Sprint, a new entry-level model powered by a smaller 440cc engine, later in the year.
What is Harley-Davidson’s “Back to the Bricks” strategy?
Harley’s new strategy relies on more than just pushing buyers toward cheaper vehicles to increase volume. The 123-year-old company has a set of five pillars on which it is building its future.
Harley-Davidson “Back to the Bricks” 5-point plan
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Deep appreciation of Harley-Davidson’s competitive advantages and legacy: The Company’s iconic brand, diversified and powerful revenue channels, and best-in-class dealer network provide a powerful foundation for growth.
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Renewed commitment to exclusive dealer network to drive enterprise profitability: Harley-Davidson’s dealers are a competitive advantage. The Company is planning actions to enable dealers to double profitability in 2026 and then double it again by 2029.
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Immediate actions to recapture share in areas where Harley-Davidson has right to win: Harley-Davidson has strong legacy equity in existing markets including new motorcycles, used motorcycles, Parts & Accessories, and Apparel & Licensing. The Company’s new strategy is focused on positioning the Company to regain share and drive meaningful volume growth in categories where it benefits from credibility, scale, and deep rider connection.
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Strong financial position with a path to stronger free cash flow and EBITDA margin: Cost and restructuring actions already underway support a path to stronger free cash flow and EBITDA margin over time.
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Bolstered management team with balance of fresh perspectives and institutional knowledge: Harley-Davidson has made a number of leadership appointments that support the Company as it leverages its innate strengths.
Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.
Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
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