Japan to act appropriately on currency moves -- Finance Minister

TOKYO, Feb 12 (KUNA) -- Japanese Finance Minister Taro Aso warned on Friday that the government will act appropriately in the currency market if necessary, expressing concern over recent sharp foreign exchange movements.
"There have been quite rough movements in the foreign exchange markets recently, and fluctuations are undesirable," Aso told reporters. "We will continue to monitor the situation with a sense of tension and respond appropriately if deemed necessary," the minister said.
His remarks come as the dollar fell to a 15-month low of the JPY 110 level in London on Thursday after US Federal Reserve Chair Janet Yellen hinted a more cautious stance on further increases in interest rates on Wednesday. "There are moves to avert risks in the financial markets globally, but Japan's economic fundamentals are solid, and recent market sentiment appears to be too pessimistic," Aso added.
At 6 p.m. (0900 GMT) in Tokyo, the US dollar traded at JPY 112.60-62 against JPY 112.37-47 Thursday in New York. Japanese financial markets were closed on Thursday for national holiday. (end) mk.tg