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Article: Japan: Fujii May Take Action on Yen; G-7 Seeks Currency Stability.
- Article from:
- TendersInfo
- Article date:
- October 6, 2009
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Japanese Finance Minister Hirohisa Fujii issued his clearest warning yet that his nation is open to intervening in the currency market even as the Group of Seven declined to criticize the tumbling dollar.
If currencies show some excessive moves in a biased direction, we will take action, Fujii said Oct. 3 in Istanbul after a meeting of G-7 finance ministers and central bankers. He declined to say if the yen is now trading in such a way.
Fujii s position has shifted since his initial remarks on taking office last month, when he opposed seeking a weak yen and selling the currency which last week rose to an eight- month high of 88.24 against the dollar. ...