Japans Finance Minister Suzuki says sharp yen moves are undesirable

div classBodysc17zpet90 cdBBJodivpTOKYO Reuters Japanese Finance Minister Shunichi Suzuki reiterated on Tuesday that sharp currency moves were undesirable as the yen weakened to 20year lows versus the dollar.p

pSuzuki made the comments before his trip to Washington to attend a gathering of financial leaders from the Group of 20 major economies this week.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pHe vowed to closely communicate with U.S. and other countries currency authorities to “respond appropriately” to currency movements.p

pJapanese authorities were carefully watching how the weakening yen may affect the economy, as stability in the currency market is important, he added.p

pThe yens decline has worsened imported inflationary pressures in Japan amid a spike in global commodity and oil costs, and an exacerbation of supply snags, which have intensified in the wake of the Ukraine crisis.p

pSuzuki declined to comment on how the government and the Bank of Japan should respond to the yens weakening, including whether intervening in the market is an option.p

p Reporting by Tetsushi KajimotoEditing by Shri Navaratnamp

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