25 November 2003, 09:48  Mizoguchi says Japan forex policy unchanged

TOKYO, Nov 25 - Japan's top financial diplomat, Zembei Mizoguchi, said on Tuesday that the government's foreign exchange policy remained unchanged. Mizoguchi, vice finance minister for international affairs, also told reporters that the currency market was showing some signs of correction. "A somewhat natural correction from excessive moves is occuring," he said. Japanese authorities have repeatedly said they would take action in the currency market if moves became excessive. "Our policy is unchanged," he said. Japan spent a record 16.2 trillion yen ($148.2 billion) in the first 10 months of the year to curb the yen's rise. ($1=109.30 yen)//

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