Yen exchange rate 1 dollar = low 151 yen level. The yen will appreciate somewhat after the finance minister's statement.
In the foreign exchange market at the beginning of the week, the yen exchange rate was trading at around 151.40 yen to the dollar. Finance Minister Kanda said, ``We will respond appropriately to excessive fluctuations without eliminating all means'' In response to his statement, there was a movement to buy yen and sell dollars. A market source said there is a sense of caution in the market about market intervention by the government and the Bank of Japan.