Suzuki: Won't rule out intervention against weak yen

Japanese Finance Minister Shunichi Suzuki said on Tuesday he would not rule out any measures to rein in yen weakness. Suzuki said a weak yen has both positive and negative impacts on the economy, but excessive volatility increases uncertainty for business operations. The minister said that could hurt the economy, adding that Tokyo is focusing on the speed of market movements rather than specific currency levels. “Rapid currency movements are undesirable. It is important for currencies to move stably to reflect economic fundamentals,” Suzuki told reporters after a cabinet meeting. “Answering the question on currency intervention, it could have undesirable effects on the market. If there are excessive movements, we will respond appropriately without ruling out any measures,” Suzuki said.