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Japan FinMin Says Ready To Act On Speculative Yen Moves After Europe Votes

5/7/2012 5:40 AM ET

Japanese Finance Minister Jun Azumi on Monday warned against speculative yen gains after the European election results and said the government is ready to act if needed.

Azumi said he sees possibility of "some destabilizing factors" such as the results of elections in France and Greece pushing stock prices lower and leading the yen somewhat higher.

The government must monitor the foreign exchange market for any sign of speculative moves that might be seen as taking advantage of such political uncertainty, Azumi said. "We will watch things closely in order to respond appropriately if needed," he added.

by RTT Staff Writer

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