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Japan finance minister says 'firmly' watching FX moves as yen weakens

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TOKYO : Japanese Finance Minister Shunichi Suzuki said on Friday that he was 'firmly' watching foreign exchange markets and sharp movements in the yen's exchange rate were undesirable, when asked about the currency's recent weakening.'Currency rates should be set by the market, reflecting fundamentals,' S

TOKYO : Japanese Finance Minister Shunichi Suzuki said on Friday that he was"firmly" watching foreign exchange markets and sharp movements in the yen's exchange rate were undesirable, when asked about the currency's recent weakening.

"Sharp moves are undesirable, currencies should move stably reflecting fundamentals. With that in mind, we will continue to keep firm watch on market moves." On the flip side, the yen's depreciation has helped boost exporters' profits, pushing up stock prices to a 33-year high.

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