Japan to Take Action on Yen When Needed
TOKYO ( TheStreet) -- Japan's Prime Minister Naoto Kan said Friday he would take "decisive action" when necessary regarding the strengthening yen.
"Excessive movement in the currency market is bad for the economy and financial markets ... I will take decisive action when necessary," Kan told reporters in Tokyo, the Wall Street Journal reports.
Kan, the Journal reports, also applied further pressure on the Bank of Japan to loosen its monetary policy, saying he would meet with BOJ Gov. Shirakawa as soon as Shirakawa returns from his U.S. trip.
The yen hit a 15-year high vs. the dollar earlier this week.The dollar was slightly higher Friday, rising 0.3% to 84.745 yen from Thursday. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel . >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV