Minister of Finance Suzuki said in the foreign exchange market on the 27th of this month that the yen has been depreciating, with the yen at one point approaching the 152 yen level to the dollar, marking the first time the yen has weakened to the dollar since July 1990. Regarding this, at a press conference after the Cabinet meeting on the 29th, he stated, ``We will take appropriate measures to deal with excessive movements without eliminating any means possible,'' and put a check on market movements.
In this regard, Finance Minister Suzuki said, ``We recognize that there are speculative movements taking into account domestic and foreign economic conditions and inflation trends, and that there may be some areas that are not in line with fundamentals = basic conditions of the economy.'' "We will continue to take appropriate measures without eliminating any means possible in response to excessive movements," he said, putting a check on market movements.
Minister Suzuki was also asked whether the exchange rate of 152 yen to the dollar would serve as a so-called ``line of defense'' that would serve as a guideline for market intervention, and answered, ``The level of the exchange rate is not the issue. Movements and changes. "We are paying attention to the situation. There are reports as if there is a concrete line of defense, but that does not mean there is such a thing."