Japan seen laying groundwork again for currency intervention
Ahead of G-7 summit, finance minister says there's no intention of seeking to depreciate the yen sharply
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Tokyo
PRIME Minister Shinzo Abe may make a further bid to win understanding from the Group of Seven (G-7) advanced economies of the need for Japan to intervene in foreign exchange markets to curb recent strong rises in the value of the yen, some analysts said on Tuesday as Japanese officials appeared to lay the groundwork for such an initiative.
Finance Minister Taro Aso told Parliament that Japan has no intention of seeking to depreciate the yen sharply and consistently, and that it would would be desirable from Japan's point of view if the dollar/yen rate settled at around 109 or approximately where it is now.
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