Minister of Finance of Japan Yoshihiko Noda said Friday that he would closely watch the currency markets, saying nothing about the threat of intervention against the background of the U.S. dollar after falling on Thursday, below the psychologically important mark of 80.00 yen.Japanese authorities should "closely monitor / in the currency market / at this level, "said Noda at a press conference after a government meeting.
Nodes statement came in response to a question about if he is going to contact the financial leaders of seven other industrialized countries to discuss the movement of the yen.
On Thursday, the U.S. dollar briefly fell to 79.57, its lowest level since March 18 when the Big Seven held a joint intervention to weaken the Japanese currency, which has since grown and as of 03.12 GMT was trading around 80.50 .
