Japan's Suga: Recent FX moves are one-sided and speculative

[TOKYO] Japan's top government spokesman said on Monday that recent currency moves were one-sided and speculative and that the government would take steps as needed.

Chief Cabinet secretary Yoshihide Suga told a news conference that the government was monitoring the foreign exchange market closely with a sense of urgency.

The dollar fell as far as 107.63 yen on Monday, its lowest since October 2014.

Mr Suga told Reuters in an interview during the weekend that the Group of 20's agreement to avoid competitive currency devaluation did not mean Japan could not intervene in response to one-sided currency moves.

REUTERS