Japan tells G20 it may need to act in FX market

MARRAKECH, Morocco, Oct 13 - Japanese Finance Minister Shunichi Suzuki said on Friday he told his Group of 20 counterparts that Tokyo may need to take appropriate action depending on moves in the currency market.

In a news conference after attending the G20 finance leaders' gathering, Suzuki said he told the group that excess volatility in the currency market was undesirable. The remarks came as strong U.S. inflation data pushed up the dollar near the psychologically important 150-yen mark, a level market players see as Tokyo's line-in-the-sand to intervene in the currency market to prop up the yen. The dollar fetched 145.50 yen on Friday.

Bank of Japan Governor Kazuo Ueda told the same news conference that his views on the global economic outlook have not changed much, after attending the Group of Seven and G20 finance leaders' gathering this week.

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