Japan Threatens Action Against Yen's Rising Tide

Japan's Finance Minister Jun Azumi has warned that his country is prepared to take decisive action in currency markets if the yen continues to rise.

The dollar/yen exchange rate recently fell sharply, reaching between 75 and 76 yen, which Azumi called an 'utterly speculative move' not supported by economic fundamentals.

Azumi instructed his staff on Saturday to be prepared for action and stated that a strong yen would have negative effects on Japan's economy.