Japan will act to prevent ‘speculation-driven’ yen gains, Aso says

Japan’s finance minister said Tuesday that Japanese authorities will prevent “speculation-driven” gains in the yen from continuing, maintaining the threat of direct intervention in the currency markets despite U.S. opposition against the measure.

“We must watch foreign-exchange movements closely and intensely in order to ensure that speculation-driven movements won’t continue,” Taro Aso said at a regular news conference.

“If necessary, we would like to take firm action in accordance with agreements” among the Group of Seven and Group of 20 leading economies, Aso said.

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