Japan finmin: will take decisive steps vs excessive forex moves

TOKYO, July 23 (Reuters) - Japanese Finance Minister Jun Azumi said on Monday he was watching currency moves closely and was prepared to take decisive steps against speculative and excessive yen gains.

Azumi, speaking at a news conference, said the yen's rise against the euro reflects the fact that concerns about Europe's sovereign debt crisis and economic fundamentals remain.

The euro fell to a near 12-year trough of 94.88 yen on Monday, under pressure from persistent fears that Spain will eventually need a full sovereign bailout.