Japan Ready to Respond to Excessive Currency Volatility, Finance Minister Says

By Leika Kihara and Satoshi Sugiyama

TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki said on Wednesday that authorities were prepared to respond to excessively volatile movements in the foreign exchange market.

“It is desirable that exchange rates move in a stable manner, reflecting fundamentals. Excessive volatility is undesirable,” Suzuki told Parliament.

“We will continue to carefully monitor developments in the foreign exchange market and we will be ready to respond with all available means,” he said.

Suzuki also said authorities were not taking specific yen levels into account when deciding whether to act. He declined to comment on what he considers excessively volatile moves.

(Reporting by Leika Kihara and Satoshi Sugiyama; editing by Himani Sarkar)