Tokyo gets G-20 backing on exchange rate policy

Tokyo

JAPAN came away from a series of top-level financial meetings in Washington at the weekend with the backing of other advanced and emerging economies for the need to avoid "excess volatility and disorderly movements in exchange rates''.

This could open the door to intervention by Japanese authorities should the yen resume its sharp upward trend, analysts said, although some foresee further monetary easing by the Bank of Japan ahead of any such move.