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

Published January 30, 2012 Updated January 30, 2012 03:30am

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By Shoaib Ur Rehman

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"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.

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