URGENT: Japan warns of "appropriate steps" to counter excessive yen moves

Japanese Finance Minister Shunichi Suzuki warned Thursday that "appropriate steps" may be taken to address excessive volatility in the foreign exchange market, saying such fluctuations are "absolutely intolerable."

In a parliamentary session, Suzuki said the recent rapid, one-sided weakening of the yen is "undesirable," after the yen slumped to a 32-year low against the U.S. dollar. It neared the psychologically important 150 yen mark.

Japan intervened in the market on Sept. 22 to arrest the yen's sharp drop.

© Kyodo News