Japan to take ‘necessary action’ if yen’s slide continues

Sep 08 (canindia.com) - Japanese Finance Minister Shunichi Suzuki on Wednesday said the government will take “necessary action” if the trend of the weakening yen continues.

Suzuki also told reporters that he is “concerned” about the yen’s rapid “one-sided” movements and that the negative aspects of the yen’s weakness should be monitored, reports Xinhua news agency.

His remarks came after the yen dropped to a fresh 24-year low against the US dollar in the 143-144 yen range and underscored comments he made earlier in the day when the Japanese currency also tumbled versus the dollar.

The government here signaled earlier on Wednesday it stood poised to intervene in the currency markets if the yen continues its rapid depreciation owing to “one-sided” currency moves, with Suzuki calling for stability in currency markets, saying the yen moves should be stable and reflect economic fundamentals. ...continue reading

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