Finance Minister Sadakazu Tanigaki reiterated on Wednesday that Japan was ready to take action against volatility in the foreign exchange market if rates did not reflect economic fundamentals.
"The government will continue to keep a close eye on the foreign exchange market and will take appropriate action against sudden, excessive moves that deviate from economic fundamentals," Tanigaki told parliament.
He also said that Japan's foreign exchange reserves were unlikely to translate into immediate losses for Japan's finances in yen terms as they would be kept in foreign assets.()