Tokyo, June 22 (Jiji Press)–Japan would take “appropriate measures whenever necessary” in the foreign exchange market, Finance Minister Satsuki Katayama said Monday, in a warning over the yen’s further depreciation against the dollar. Making the comment at a press conference after a cabinet meeting, she indicated again that the government and the Bank of Japan would not hesitate to intervene in the currency market to prop up the Japanese currency. The yen is currently trading past 161 to the dollar, weaker than the level at which Japanese authorities conducted a yen-buying, dollar-selling intervention in late April. Katayama declined to comment in detail on the current yen-dollar rates. The minister said Friday that authorities would take “resolute action” if there are speculative movements in the market. END [Copyright The Jiji Press, Ltd.]
Japan Ready to Act over Forex at Any Time: Finance Chief
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