TOKYO (MNI) – Japanese Finance Minister Jun Azumi repeated on
Friday that the government will take “appropriate action in a timely
manner” in the currency market to prevent a sharp yen rise from hurting
the economy’s gradual recovery.
He also told an economic forum that Tokyo is closely watching forex
rates “with a sense of urgency,” a remark he has often made which is
aimed at keeping speculative moves from pushing up the yen.
Japan has not intervened in the forex market since its large-scale
yen-selling operations in the last quarter of last year.
tokyo@marketnews.com
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