URGENT: Rapid currency moves "not desirable": Japan gov't spokesman

Japan's top government spokesman said Monday rapid currency moves are "not desirable," as the yen continues to slide against the U.S. dollar.

The Japanese government will keep tabs on movements in the currency markets and their impact on the Japanese economy, Chief Cabinet Secretary Hirokazu Matsuno told a press briefing.

The dollar, which broke past 123 yen for the first time since December 2015, was trading in the upper 123 yen zone in the afternoon, amid the prospect of a widening policy gap between the U.S. Federal Reserve and the Bank of Japan. The BOJ stepped into the bond markets Monday to curb rising 10-year Japanese government bond yields.

© Kyodo News