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Japan must respond firmly to excessive currency moves: government spokesman

Reuters

TOKYO (Reuters) - Japan must respond firmly to excessive moves in the foreign exchange market as it wants to keep the environment favorable for Japanese businesses, the top government spokesman said on Wednesday.

Chief Cabinet Secretary Yoshihide Suga told a TV program the government should closely monitor the market to spot any speculative and one-sided move, but declined to comment on current levels of the yen currency.

The comment pointed to government concern about a return of gains in the yen, despite its weakening since late last year. It followed remarks by Prime Minister Shinzo Abe that the economy will remain the top priority this year.

(Reporting by Tetsushi Kajimoto; Editing by Clarence Fernandez)