29 November 2001, 09:32 Mizoguchi - Undesirable to see yen rise vs dollar, MoF ready to act
TOKYO (AFX-ASIA) - Finance Ministry senior deputy director-general
Zenbei Mizoguchi said it is undesirable to see the yen rise against the
dollar, which has fallen to around low 123 yen levels.
"Considering Japan's economic fundamentals, there is no grounds to
justify an advance in the yen against the dollar, though they will
respond to a range of economic factors," Mizoguchi told AFX Asia in the
ministry.
"I think the yen's strength will be corrected sometime in the
future, but it is undesirable in the future against the dollar," he
said.
"We will closely watch the market moves (and) we maintain our
stance that we will take appropriate action if the forex market shows
signs of wild fluctuation," Mizoguchi said.
© 1999-2024 Forex EuroClub
All rights reserved