16 July 2001, 08:12 Muto - if dollar/yen moves excessively, govt will take appropriate action
TOKYO (AFX-ASIA) - Adminstrative Vice Minister in the Finance
Ministry Toshiro Muto said that the government is ready to take
appropriate action if the dollar/yen moves excessively and out of line
with underlying fundamentals.
Asked whether the Bank of Japan's economic assessment, due out
later today, will pressure the yen beyond the current 125/dollar
levels, Muto said: "The dollar/yen should reflect economic fundamentals
but we cannot comment on what levels match the fundamentals.
"If the dollar/yen shows sharp fluctuations beyond (what is
justified by) fundamentals, the government will take appropriate
action," he said.
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