Japan remains vigilant against forex moves, finance ministry says

TOKYO, Oct 10 (Reuters) – Japanese Finance Minister Katsunobu Kato said on Friday that the government will remain vigilant against excessive volatility in the foreign exchange market as the yen remained under pressure over fiscal concerns. "We have been recently seeing one-sided, rapid moves on the foreign exchange market," he said at a news conference. "It's important for currencies to move in stable manner reflecting fundamentals. The government will thoroughly monitor for excessive fluctuations and disorderly movements in forex market," he said. The Japanese yen fell to its weakest level against the dollar since mid-February on concerns that the newly elected leader of the ruling party, Sanae Takaichi, would introduce more fiscally expansive policies. (Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)

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