Japan takes measures to stem yen's appreciation

Japan intervened in the currency market on Thursday to stem yen's appreciation against the U.S. dollar, Finance Minister Yoshihiko Noda said.

The Japanese government will continue to closely monitor the currency market as the yen has been rising against the U.S. dollars and other major currencies, said Yoshihiko Noda.

Yoshihiko Noda confirmed that Japan intervened unilaterally in the forex market to counter yen's "one-sided" strength.

The Bank of Japan also shortened its scheduled two-day decision- making meeting and was expected to decide on further monetary easing policies on late Thursday, according to the broadcaster NHK.

Source:Xinhua