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Japan finmin: G7 aims to ease market worries ahead of G20 meet
June 5, 2012 / 11:52 PM / 5 years ago

Japan finmin: G7 aims to ease market worries ahead of G20 meet

TOKYO, June 6 (Reuters) - Japanese Finance Minister Jun Azumi said on Wednesday that G7 policymakers shared the view that they should work to ease financial market worries ahead of a G20 meeting in Mexico later this month.

Finance ministers from the Group of Seven major economies discussed progress towards financial and fiscal union in Europe, the U.S. Treasury Department said on Tuesday, after the ministers held an emergency call on the euro zone debt crisis. But the group made no joint statement and took no immediate steps.

Azumi told his G7 partners the yen’s strength and falling stock prices pose a risk to the Japanese economy, signalling that Tokyo was prepared to step into market to stem its currency’s gain.

The dollar hovered around 78.80 yen on Wednesday, up f rom 77.65 yen hit last week, its highest since mid-February. (Reporting by Kaori Kaneko; Editing by Edwina Gibbs)

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