Finance Minister Shunichi Suzuki said Tuesday that the government stands ready to act if the yen falls too sharply.
"We are watching [the currency market] with a strong sense of urgency," Mr Suzuki said at a press conference on Tuesday. 'We will take all possible measures' to prevent excessive yen volatility, he said.
Mr. Suzuki reiterated that the government was not targeting any particular level of the yen, but rather focused on the range of currency movements. The dollar last traded around 149.85 yen.