TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said the ministry has intervened in the foreign exchange market after inappropriately rapid movements. "Recent movements in the foreign exchange market have been too rapid. We have taken appropriate action today in the foreign exchange market as a follow-up to last week's operations," he said in a statement. "We will continue to closely monitor the market and take appropriate action as necessary." At 3.16 pm, the dollar was trading at 124.09 yen compared with 123.03 prior to the intervention.