9 November 2001, 08:46 Mizoguchi - Stronger yen undesirable, MoF ready to act
TOKYO (AFX-ASIA) - Finance Ministry senior deputy director-general
Zenbei Mizoguchi said a stronger yen against the dollar is undesirable
and the ministry will take appropriate action if needed.
"I believe the current economic fundamentals do not justify a
stronger yen against both the euro and the dollar," Mizoguchi told
AFX-ASIA at the ministry.
"There is currently speculative action centring on the euro so this
move will be corrected at some point," he added. "The yen's rise is not
desirable and we are ready to take proper action, watching closely
market moves."
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