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Aso to take steps on yen rise as needed if speculative moves seen

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Japanese Finance Minister Taro Aso on Tuesday kept up his warning against yen gains, saying that he would take steps as needed if one-sided and speculative moves were observed in the currency market.

[TOKYO] Japanese Finance Minister Taro Aso on Tuesday kept up his warning against yen gains, saying that he would take steps as needed if one-sided and speculative moves were observed in the currency market.

Mr Aso said he believed he could take action based on a G-20 agreement that excessive volatility and disorderly moves hurt financial stability.

The dollar was hovering near 108 yen, not far off a 17-month low of 107.63 yen hit this week on bets that the US Federal Reserve would go slow in future interest rate hikes.

REUTERS

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