(Bloomberg) -- Japanese officials rolled out further warnings on the yen after the currency slumped through the 155 mark against the dollar, leaving market players on edge ahead of a central bank meeting and US economic data that may trigger further moves.

“We are paying close attention to the market right now,” Finance Minister Shunichi Suzuki said Thursday in a parliamentary session when asked about the latest currency moves. “My intentions haven’t changed at all in that we will take appropriate measures based on what we are looking at.”

His comments were reinforced by Japan’s top government spokesman Yoshimasa Hayashi, who told reporters that excessive currency moves were undesirable and that markets should reflect economic fundamentals.

Read more: Yen Weakens Past Key 155 Level, Adding to Intervention Risk

Neither official ramped up the levels of warnings to threaten “bold” action if needed, Japan’s clearest reference to the threat of intervention in currency markets. The yen was at 155.42 against the dollar, a whisker away from a 34-year low of 155.45 reached earlier in the morning.

“I hope you will understand that I can’t say much in the current situation,” Suzuki said.

Market players are closely watching comments to see if Tokyo’s patience with the yen slump will continue without action. 

The Bank of Japan’s April policy meeting started Thursday with the board widely expected to leave interest rates unchanged when it releases its decision on Friday. Standing pat without signaling rate hikes to come may give market players another motive to push the yen weaker. 

US data out Friday evening in Tokyo may also move the needle on the currency. The Federal Reserve’s preferred inflation gauge is released in the evening in Tokyo before Japan enters a long holiday weekend.

--With assistance from Yoshiaki Nohara and Gareth Allan.

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