(MENAFN- Trend News Agency)
Japan stands ready to take 'decisive' steps in the foreign
exchange market if excessive yen moves persist, Finance Minister
Shunichi Suzuki said on Monday, in a fresh warning against
investors selling off the Japanese currency, reports citing .
'It's important for currencies to move stably, as sharp and
one-sided moves are undesirable,' Suzuki said in a post-cabinet
meeting news conference, referring to the yen's recent sharp
'We intervened the other day and we have said we would take
decisive steps as needed. There's no doubt this has guarded against
speculative moves,' he said.
Japan spent up to 2.8 trillion yen ($19.34 billion) intervening
in the foreign exchange market last month to prop up the yen when
it fell to a 24-year low near 146 yen. It was last trading at
144.75 to the dollar .
Asked about the large size of intervention, Suzuki said the
amount was decided by taking comprehensive factors into
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