Japan Forex Market

Japan Govt Watching Forex Market Carefully

Japan's top government spokesman said Thursday he is closely monitor the foreign exchange market, but isn't in a position to comment on the issue of intervention.
"I want to watch foreign exchange movements carefully with a sense of alertness," Chief Cabinet Secretary Yukio Edano said at a press conference.

His comments came after the dollar rose suddenly against the yen in the afternoon.The dollar sank as low as  Y78.45, but then recovered to around Y79.60, sparking speculation that the government may have intervened to support the dollar.

Such speculation was later dismissed, and at 0740 GMT, the dollar was trading at Y79.05.