Japanese Vice Finance Minister Masakazu Hayashi said on Monday that the government's stance on currency intervention was unchanged even as the yen fell further against the dollar. "We act to stem speculative moves in the market," he told a news conference. "From that standpoint, our stance on currency intervention is unchanged." Hayashi declined to comment on specific foreign exchange rate levels, but said the market was undergoing a reversal of yen-buying, dollar-selling positions that had been built up.
The dollar rose more than one yen on Friday to a high of 112.30 yen on suspected intervention by Japanese authorities, despite falling against other major currencies on surprisingly soft U.S. jobs data. It was around 112.15 yen on Monday.///