Finance Minister Shunichi Suzuki has said that last week¡¯s meeting with his U.S. and South Korean counterparts laid the groundwork for Tokyo to act against excessive yen moves, issuing the strongest warning to date on the chance of intervention.
¡°I voiced strong concern on how a weak yen pushes up import costs. Our view was shared not just in a meeting with my South Korean counterpart, but at the trilateral meeting that included the United States,¡± Suzuki told parliament on Tuesday.
¡°I won¡¯t deny that these developments have laid the groundwork for Japan to take appropriate action (in the currency market), though I won¡¯t say what that action could be,¡± he added.
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