Japan MOF says ready to respond to excessive FX moves

TOKYO (Reuters) – Japan’s top currency diplomat, Masatsugu Asakawa, on Wednesday warned investors against pushing up the yen too fast, saying Tokyo would respond to excessive market moves.

Asakawa made the comment to reporters when asked about the dollar’s fall to a seven-week low below 100 yen on Tuesday.

“We would have to respond if there are excessive moves. We’re closely monitoring (the market),” he said, adding that Japanese authorities were exchanging views on the currency market with Group of Seven partners.