Reuters: US Dollar Report: Japan finmin: will take decisive steps vs excessive forex moves

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Japan finmin: will take decisive steps vs excessive forex moves Jul 23rd 2012, 01:02 TOKYO, July 23 | Sun Jul 22, 2012 9:02pm EDT TOKYO, July 23 (Reuters) - Japanese Finance Minister Jun Azumi said on Monday he was watching currency moves closely and was prepared to take decisive steps against speculative and excessive yen gains. Azumi, speaking at a news conference, said the yen's rise against the euro reflects the fact that concerns about Europe's sovereign debt crisis and economic fundamentals remain. The euro fell to a near 12-year trough of 94.88 yen on Monday, under pressure from persistent fears that Spain will eventually need a full sovereign bailout.

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