9 July 2002, 10:52 Shiokawa Comments Add To Confusion on FX Policy
Japanese Finance Minister Masajuro Shiokawa attempted to clarify weekend
comments, which were intepreted as a green light for the dollar to fall
to Y115 against the yen. Shiokawa reportedly said this was not his view,
adding that Tokyo would intervene if necessary. But later, Shiokawa told
a parliamentary committee that "fundamentally, currency moves should be
left to the market," and that he thought the U.S. might be moving away
from a strong dollar policy. //MarketNews
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