Japanese Finance Minister Shunichi Suzuki stresses the need for foreign exchange rates to move stably by reflecting economic fundamentals, saying that excessive fluctuations should be rectified.
Japan likely spent some 5 trillion yen ($32 billion) on April 29 in currency market intervention, data by its central bank and market sources showed Tuesday, in the clearest evidence yet of the nation's attempt to slow the yen's rapid fall.
Japanese Finance Minister Shunichi Suzuki said Friday the government is closely monitoring developments in the foreign exchange market after the yen rose sharply against the U.S. dollar on market speculation of a policy change by the Bank of Japan.
Japan does not rule out any options in countering excessive volatility in foreign exchange markets, Finance Minister Shunichi Suzuki says, adding the government is monitoring developments with a heightened sense of urgency.