Japan will 'act appropriately' over yen: finance minister
After a week that has seen the yen soar against rivals, specifically the dollar, the country's finance minister on Friday sent a warning to investors. "We have seen quite rough movements in the exchange rate recently. We will continue to watch the foreign- exchange market with a sense of tension, and we will act appropriately if that becomes necessary," Finance Minister Taro Aso said in a press conference on Friday, according to a report in The Wall Street Journal. The dollar last traded at ¥111.92, from ¥112.27 late Thursday in New York. During Asian trading on Thursday, the dollar hit a fresh 15-month low of ¥110.98. The Nikkei 225 index closed down 4.8% to 14,952.61 on Friday. Other Japanese officials were also commenting on Friday. An advisor to Prime Minister Shinzo Abe, Etsuro Honda, said the Bank of Japan may call an emergency meeting if financial markets upheaval continues.
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