Japan threatens to take “decisive action” to stem Yen’s rise

The Japanese government is closely watching the currency market, Japan’s Finance Minister Jun Azumi said Monday, repeatedly threatening to take “decisive action” to stem the yen’s rise as it surged against the euro. “My response to the foreign exchange market has never changed,” Japan’s (Kyodo) news agency quoted Azumi as saying. “As I always say, we will take decisive action against any speculative moves and excessive volatility (in the yen’s rates),” he said, suggesting Tokyo would intervene in the market if necessary.  Chief Cabinet Secretary Osamu Fujimura also expressed caution over the euro’s recent plunge versus the yen, saying the government is “closely monitoring” the European currency’s moves.