Japan won't rule out currency devaluation: Suga

Tokyo

JAPAN'S top government spokesman said that the Group of 20's (G-20) agreement to avoid competitive currency devaluation does not mean Japan cannot intervene in response to one-sided currency moves.

The Bank of Japan (BOJ) and the government are tensely watching currency markets and the government is prepared to take appropriate steps as needed, Chief Cabinet Secretary Yoshihide Suga told Reuters, but declined to comment on what steps the government was considering.