Japan PM Abe ready to whack the yen

May 5, 2016 08:57 AM

Japanese Prime Minister Shinzo Abe said on Thursday Tokyo will take appropriate action against excessive, speculative yen rises that could hurt the country's export-reliant companies.

Abe said he agreed with leaders in France and Germany that stability in currency moves was important.

"We will watch currency moves carefully and take action as needed," Abe told a news conference in London after meeting with European leaders.

Asked whether currency issues will be discussed at a Group of Seven leaders' summit later this month, Abe said: "We expect the issue to be discussed as needed."

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