Japan says will respond to yen surge

Japan finance’s chief said the government will "respond appropriately" to a surge in the yen after it hit a 15-year-high against the dollar amid a weakening U.S. economic recovery.

"We are closely monitoring a rapid rise in the yen," Finance Minister Yoshihiko Noda told reporters Thursday. His comments came a day after the dollar fell to 84.71 yen, the lowest since 1995.

The dollar climbed back to 85.70 in late Tokyo trade Thursday. Noda declined to comment on currency interventions by the government to prop up the greenback.

Read the rest of the story: Japan says will respond appropriately to yen surge – Forbes.com.

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