Tokyo, Nov. 30 (Jiji Press)–The yen’s recent rapid depreciation against other major currencies is clearly not driven by economic fundamentals, Japanese Finance Minister Satsuki Katayama said in a television program on Sunday, cautioning against speculative moves on the foreign exchange market. “It’s our position to sound the alarm” on such a situation, the finance minister told the program aired by Fuji Television Network Inc. On the possibility of Japanese monetary authorities launching a market intervention aimed at curbing the yen’s slide, Katayama said: “The Japan-U.S. finance ministers’ joint statement says that (intervention) is possible to address disorderly movements. I have stated that acting in accordance with the joint statement is a possibility.” END [Copyright The Jiji Press, Ltd.]
Yen’s Rapid Fall Not Driven by Fundamentals: Japan Finance Chief
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