November 7, 2012 / 5:45 AM / 5 years ago

Japan finmin: FX intervention an option if yen moves too rapid

TOKYO, Nov 7 (Reuters) - Japanese Finance Minister Koriki Jojima said on Wednesday currency intervention will become an option if Tokyo deems exchange rate moves to be too rapid.

“We’re monitoring currency markets with a sense of urgency and will respond as appropriate,” Jojima said in a parliamentary committee, although he declined to say specifically what kind of yen moves would be considered as excessive.

Jojima said Japan’s economy was in a severe state and there was a possibility it was slipping into recession.

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