Japanese Government Watching Currency Movements Closely, Prime Minister Says

By Peter Landers

TOKYO-Japanese Prime Minister Fumio Kishida said his government wouldn't rule out any measures in dealing with foreign-exchange rates, responding to a question about the yen's recent weakness.

In a group interview with Western media organizations Friday, Kishida said his government was watching foreign-exchange moves closely and believed that excessive moves were undesirable.

"In response to excessive movements, we would like to respond appropriately and we will not rule out any measures," Kishida said.

He said he would cooperate with Group of Seven nations led by the U.S. in dealing with exchange rates and observed that the G-7 has said disorderly movements in the market could have negative effects on the global economy.

The yen has recently been trading near its lowest level against the dollar in more than three decades.

Write to Peter Landers at [e-mail]

(END) Dow Jones Newswires

04-05-24 0322ET