WASHINGTON - Japanese Finance Minister Shunichi Suzuki said on Friday authorities would take appropriate action against excessive currency market moves, repeating his warning to investors against pushing down the yen too much.
"Uncertainty and market speculation over these developments have heightened volatility in financial markets, including foreign exchange markets," Suzuki said in a statement to the International Monetary Fund's steering committee. A broad dollar rally driven by receding market expectations of a near-term U.S. interest rate cut has recently pushed the yen to a 34-year low, heightening the chance of currency intervention by Japanese authorities.
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