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Japan MOF's Tsuda says watching forex carefully

Thu Jul 26, 2007 5:21am EDT

TOKYO, July 26 (Reuters) - Japanese Vice Finance Minister Hiroki Tsuda said on Thursday he was watching the foreign exchange market carefully and that it should reflect economic fundamentals.

"The economy continues on a smooth recovery, led by private sector demand," Tsuda told a news conference.

He said the finance ministry did not know whether next month's meeting of finance ministers from member countries of the Asia-Pacific Economic Cooperation forum would discuss the weak yen.

South Korea's Finance Ministry said on Thursday it plans to raise the issues of a persistently weak yen and yen carry trades during the APEC meeting scheduled for Aug. 2-3 in Coolum, Australia.



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