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