TOKYO (MNI) – Japan’s government will continue countering
speculative moves to push up the yen, even though the lopsided rise in
the currency has been capped, a senior Ministry of Finance official said
on Wednesday.
The official, who declined to be named, also told reporters that
the MOF is still watching foreign exchange rates “with a sense of
urgency” as a sharp rise in the yen would hurt the economy’s export-led
recovery.
The official said he is “not uncomfortable” with the recent weaker
yen exchange rates, which were triggered by the Bank of Japan’s “timely
monetary easing” last week and but added speculative yen buying is
“deep-rooted.”
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **
[TOPICS: M$A$$$,M$J$$$,MGJ$$$,M$$FX$,MT$$$$]
