Japan will be vigilant for forex market volatility, finance minister says
TOKYO, Oct 7 (Reuters) - Japanese Finance Minister Katsunobu Kato said on Tuesday that the government will be vigilant for volatile movements on the currency market as the yen slid to two-month lows past 150 to the dollar.
"It's important for currencies to move in stable manner reflecting fundamentals," Kato said at a regular news conference, when asked about recent foreign exchange moves.
"We will thoroughly monitor for excessive fluctuations and disorderly movements in the foreign exchange market," he added.
The yen has been under pressure since Japan's ruling party picked conservative Sanae Takaichi, an advocate of late premier Shinzo Abe's "Abenomics" strategy to boost the economy with aggressive spending and easy monetary policy, as its head on Saturday.
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