Finance Minister Sadakazu Tanigaki said Sunday that Japan will take action against the yen's continued rise but coordinated intervention with U.S. or European monetary authorities will be difficult.
"We should intervene in the market timely and appropriately when we see moves different (from economic fundamentals)," Tanigaki said on a TV program. Tanigaki said he believes the dollar is not in a situation in which it will keep declining single-handedly, as the U.S. economy is doing well.
He added that coordinated action with U.S. or European monetary authorities to stem the yen's rise will "not always be possible."
The dollar has been falling against the yen on the back of large U.S. budget and current-account deficits.
It fell below 106 yen Wednesday in New York trading. Apparent intervention by Japanese monetary authorities pushed it back to the lower part of 108 yen at one point Friday in Tokyo, but it again fell below 107 yen in New York.
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