TOKYO (MNI) – Japan’s Finance Minister Jun Azumi said Monday that
Tokyo intervened in the forex market from 1025 JST, “as speculative
moves have continued” in the market, but he declined to comment on
magnitude of the intervention.
Azumi said he had judged the intervention would be necessary this
morning, adding that Tokyo will continue intervention until “I am
satisfied.”
He said Tokyo has always contacted Group of Seven industrialized
nations about forex moves and intervention, but he declined to comment
on whether he contacted with them this morning.
He said, “Forex moves, if not reflecting economic fundamentals,
will distort actual economic conditions.”
tokyo@marketnews.com
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