Japanese Finance Minister Shunichi Suzuki said on Friday there were "speculative" moves behind recent yen declines, suggesting authorities remained on stand-by to intervene in the market to address any excessive falls in the currency.
Suzuki also said authorities were watching the speed, rather than the levels, of the yen's moves.
He repeated Tokyo's recent warnings that authorities would not rule out any steps to respond to disorderly currency moves.
"Given how the yen's declines are continuing despite the interest rate gap narrowing, albeit modestly, suggest that there are speculative moves in the market," Suzuki told parliament.
Excessive volatility is undesirable, and we are watching market moves from this perspective," he said.
Persons:
Shunichi Suzuki, Suzuki
Organizations:
Japanese Finance
Locations:
Tokyo