— Japan’s Azumi: To Watch Development of FX Market Closely
— Japan’s Azumi: Speculative Moves Pushing Up Yen
— Japan’s Azumi: Recent FX Moves Not Reflect Econ Fundamentals
TOKYO (MNI) – Japanese Finance Minister Jun Azumi said on Tuesday
he will watch development of the forex market closely, and the MOF will
take decisive action if needed.
He said, “Excessive moves in the forex market, such as the rapid
yen appreciation, will bring adverse effects on stability of economic
and financial conditions,” adding, that he “will continue to watch
developments in the market with extra care, and (the MOF) will take
decisive steps if necessary.”
He also said, “I have judged that speculators have been pushing up
the yen recently” supported by some factors such as the weak outlook for
the U.S. economy, adding that recent FX moves “are not reflecting
economic fundamentals.”
Meanwhile, he repeated he would like to decide on whether the
government will compile a supplementary budget for FY2012 after watching
April-June GDP data which are due out on Aug. 13.
tkeditorial@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4833 **
[TOPICS: M$A$$$,M$J$$$,MGJ$$$]