Japan will reassert its determination to prevent the rapid appreciation of the yen against the dollar at the Group of Seven finance officials meeting, Finance Minister Kiichi Miyazawa said Tuesday.
"I still think the (Japanese) government must act appropriately whenever necessary. I am going to say so at the G7 meeting this weekend," Miyazawa said in a speech in a Tokyo hotel. His remarks come at a time when the yen has weakened substantially over two weeks following intervention by Japanese monetary authorities who stepped into the currency market selling yen for dollars.
The G7 meeting of finance ministers and central bankers will be held on Saturday in Tokyo. The G7 groups Britain, Canada, France, Germany, Italy, Japan and the U.S.