The “sell-Japan” sentiment took a day off Friday as the top finance official warned of currency intervention against a rapidly sliding yen, and as a massive economic stimulus package came in within expectations and below the worst-case scenario.
“The government will take appropriate action when necessary to address excessive volatility or disorderly movements in the foreign exchange market, including speculative activity,” Finance Minister Satsuki Katayama told reporters on Friday.
“Of course, it’s also a possible option,” she said when asked about direct intervention in the currency markets.
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