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To act on forex as appropriate: Noda
TOKYO : Japanese Prime Minister Yoshihiko Noda said on Monday the government is closely watching the foreign exchange ma
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TOKYO: Japanese Prime Minister Yoshihiko Noda said on Monday the government is closely watching the foreign exchange market and will take appropriate steps against excess volatility.
"Excess volatility in the currency market hurts stability in the economy and financial markets," Noda told parliament's upper house.
Noda reiterated that the economy is expected to pick up moderately but the government remains vigilant on risks stemming from Europe's sovereign debt crisis.
He also pledged to work closely with the Bank of Japan to beat persistent deflation in the face of the yen's historic strength.
Copyright Reuters, 2012
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