Japan threatens to intervene as gov't sees excessive strength of yen
TOKYO. June 2. KAZINFORM The Japanese government on Friday stepped up its warning against investors apparently increasing short-term bets and adding to volatility in the currency market, indicating it would intervene to curb the yen's strength if necessary.
"It is evident that the one-sided movement of the yen does not reflect real economic conditions in Japan," Finance Minister Jun Azumi told reporters, questioning the yen's advance against the U.S. dollar and the euro despite the economic difficulties Japan is facing, Kyodo reports.
"We will watch developments in the foreign exchange market more acutely and I believe we would have to respond in a decisive manner if such excessive volatility continues," Azumi also said, indicating a possible intervention to prevent further appreciation of the yen.
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