February 12, 2016 / 1:51 AM / 2 years ago

Japan to closely watch forex, take appropriate steps if needed

TOKYO, Feb 12 (Reuters) - The Japanese government will continue to monitor financial markets with a sense of urgency and will take appropriate steps if needed, its chief spokesman said on Friday.

Chief Cabinet Secretary Yoshihide Suga also told a news conference that Japan’s economy is firm with corporate earnings at record-high levels.

The dollar was trading around 112.30 yen after falling below 111 yen on Thursday to hit its lowest level since October 2014, triggering market speculation that Tokyo could intervene in the market to prevent a further yen spike.

The benchmark Nikkei share average fell over 4 percent on Friday. (Reporting by Kaori Kaneko; Editing by Chris Gallagher)

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