Strongest warning yet on readiness to intervene

Well prepared: Suzuki at the International Monetary Fund headquarters in Washington. Japan’s Finance Minister says the groundwork to take appropriate action in the currency market has been laid, but stopped short of saying what that action could be. — AP

TOKYO: Japanese Finance Minister Shunichi Suzuki says last week’s meeting with his US and South Korean counterparts has laid the groundwork for Tokyo to act against excessive yen moves, issuing the strongest warning to date on the chance of intervention.

“I voiced strong concern on how a weak yen pushes up import costs,” Suzuki told parliament yesterday.