TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said the government will intervene in the foreign exchange market if necessary, based on its own judgement rather than as a part of concerted international action. "Although the current forex market is relatively subdued, with no abnormal moves, we need to monitor closely the world currency markets and be cautious over possible movements," he said. "G7 governments have agreed that they will intervene in the market to stabilise currencies, if necessary, based on their own judgement," he said. "This means we will not conduct concerted intervention." Shiokawa added that among G7 countries, only the US has considered additional fiscal spending after the attacks. "The Japanese government needs to watch closely the military developments after US action against Afghanistan before deciding whether to consider new spending for the economy," he said. "Spending should be focused on helping the government's structural reforms but it's too early to decide on that," he added.