Japan PM Says Ready to Step into Forex Markets Again

Japan PM Says Ready to Step into Forex Markets Again
The Prime Minister of Japan on Thursday that the authorities will continue to intervene to curb the strength of the yen and the decline in manufacturing confidence and stressed the threat posed by the currency on the fragile economic recovery.
A poll conducted by Reuters monthly report that tracks the Bank of Japan Tankan manufacturing confidence fell in September from August for the first time in nearly one of the companies struggled with the yen rose to its highest level in 15 years against the dollar.
Respond to concerns about the high yen, and the authorities intervened in the market on Wednesday for the first time in six years to hit the currency lower.
The data showed the Bank of Japan money market has reached the yen-selling up to 1.86 trillion yen ($ 21.7 billion), which will set a record for one day.
The Prime Minister Naoto Kan, who repelled a challenge for the leadership of the ruling party from the party controls the balance of power this week, on Thursday to sell the yen more if necessary.