TOKYO (MNI) – Japanese Finance Minister Yoshihiko Noda said on
Friday that he will “closely watch” the foreign exchange, financial and
commodity markets, without elaborating further.
At a regular news conference, Noda was asked whether the Group of
Seven industrialized nations will discuss the recent forex moves and may
intervene to stem the yen’s rise again.
Overnight the dollar-yen rate moved from Y79.55, the lowest since
March 18, to Y80.69. It was quoted at around Y80.50 in early Asian
afternoon trading on Friday.
The G7 jointly intervened to restore stability to the forex market
on March 18 after the yen soared to a record high of Y76.25 to the
dollar on March 17, breaking the previous record high of Y79.75 hit in
April 1995.
It was the first concerted G7 forex action since 2002.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **
[TOPICS: M$A$$$,M$J$$$,MGJ$$$]