June 6, 2016 / 3:01 AM / 3 years ago

Japan's Suga says forex stability 'extremely important'

Japan's Chief Cabinet Secretary Yoshihide Suga speaks during a joint Japan-U.S. meadia briefing about the process of U.S. forces consolidation in Okinawa, at Tokyo December 4, 2015. REUTERS/Thomas Peter

TOKYO (Reuters) - Japan’s top government spokesman said on Monday that stability in the currency market was vital and that the country would take steps as needed.

“Rapid foreign-exchange moves are not desirable and stable moves are extremely important,” Chief Cabinet Secretary Yoshihide Suga told a news conference.

He said that the government would monitor the currency market with a sense of urgency to prevent speculative moves from continuing and that he expected steps would be taken as necessary.

The dollar hit a one-month low of 106.35 yen after a dismal U.S. jobs report prompted investors to rule out the chance of a hike in U.S. interest rates this month.

Reporting by Kaori Kaneko; Editing by Chris Gallagher

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