Japanese Finance Minister Taro Aso warned market players against pushing up the yen too much further, saying that its spike against the dollar overnight was “rough” and undesirable for the economy.
Aso said that while there was no immediate plan for G20 and G7 nations to take coordinated action against the current markets turmoil, global financial authorities were in frequent contact with each other on market developments.
“I would say they are rough, rather than rapid,” Aso told reporters after a cabinet meeting on Tuesday, when asked about the yen’s spike against the dollar in New York on Monday.
