Japan's Azumi warns against FX speculation vs yen

TOKYO: Japanese Finance Minister Jun Azumi on Wednesday warned against speculators driving up the yen, saying that he would not rule out any steps to curb speculation.

He said the yen's current rise does not reflect economic fundamentals and that it stems from the sovereign debt crisis in Europe and recent weak US economic indicators.

The dollar dipped to a fresh record low against the yen at 75.73 yen late on Tuesday, keeping alive the threat of intervention by Japanese authorities. The dollar has since edged back up to 76.08 .