Japanese Finance Minister Katsunobu Kato said on Tuesday that the government is "alarmed" over recent foreign exchange moves, singling out those caused by speculators. He repeated the government's stance that it will react against excessive forex volatility.
Kato said Japan has noticed "one-sided, rapid" moves on the currency market, stressing that it is important that currencies move "in a stable manner reflecting fundamentals." The dollar is up 5.35% compared to the yen in a month, reaching 157.9875 at 6:25 am CET.
