Reuters: US Dollar Report: MoF's Nakao says Japan could take 'very decisive' FX action

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MoF's Nakao says Japan could take 'very decisive' FX action Aug 29th 2012, 08:58 LONDON | Wed Aug 29, 2012 4:58am EDT LONDON Aug 29 (Reuters) - Japan could intervene decisively in the foreign exchange market to counter the effect of a strong yen, the country's top currency official said on Wednesday "Exports have been influenced by supply chain changes and problems in Europe, some advanced economies and also in China. And we are also suffering from a very appreciated yen," Takehiko Nakao, Japan's Vice Finance Minister for international affairs, said in a speech at an event in London hosted by the OMFIF think tank. Japanese authorities have stayed out of the currency market since their last intervention in November. But they have resumed issuing verbal threats recently on concerns that a stronger yen could derail the export-dependent economy's recovery from last year's earthquake and tsunami.

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