Noda Says Japan Prepared to Act on Yen as Strength Hurts
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Japanese Prime Minister Yoshihiko Noda said his government will act against any disorderly gains for the yen, and urged policy makers around the world to follow through on pledges to rebalance global demand.
“We have to observe the market closely to see whether there are excessive or disorderly moves” in the currency market, Noda, 55, said in an interview today at his office in Tokyo. The yen’s strength is a “serious problem,” is out of step with Japan’s economic performance and “when necessary, we will take decisive action,” he said.