Printer Friendly

Japan to monitor currency market carefully.

TOKYO, April 1 Kyodo

Japanese monetary authorities will monitor currency fluctuations carefully, as volatility in foreign exchange rates will affect business sentiment, Vice Finance Minister for International Affairs Zembei Mizoguchi said Thursday.

''Volatility in foreign exchange rates affects corporate sentiment,'' Mizoguchi told reporters. ''We will continue to monitor market movements carefully.''

Mizoguchi declined to comment on specific foreign exchange rates. He also said Japan's position on currency policy was clarified in a statement adopted by the Group of Seven (G-7) finance leaders at their meeting in Boca Raton, Florida, in February.

The G-7 statement warned that currency market volatility poses a risk for the global economy, while calling for ''more flexibility'' in exchange rates. Japan has interpreted the statement as allowing it to intervene in the currency market when necessary.

The U.S. dollar remained weak in the lower 104 yen range Thursday in Tokyo following the release of upbeat business sentiment data from the Bank of Japan's quarterly survey. At 5 p.m. the dollar was quoted at 104.12-14 yen.
COPYRIGHT 2004 Kyodo News International, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Japan Weekly Monitor
Date:Apr 5, 2004
Previous Article:Nonresident investors remain net stock buyers for 7th week.
Next Article:LEAD: Nintendo sustains 68 bil. yen in exchange losses in FY 2003.

Related Articles
LEAD: Suda backs BOJ purchases of foreign currency bonds.
Japan to monitor forex market, stability needed: MOF official.
Dollar above 106 yen line on Fed's statement.
Kyodo economic news summary.
Dollar hits 4-month Tokyo high despite Greenspan comment.
Kyodo economic news summary.
Kyodo economic news summary -5-.
Kyodo economic news summary -2-.
LEAD: Gov't says excessive forex move undesirable, to stay alert.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters