October 31 2011
Azumi told a news conference the solo intervention started at 10:25 local time (9:25 p.m. EDT). He declined to comment on the size of yen-selling, but added Tokyo would continue to intervene until it was satisfied with the results.
Azumi told reporters earlier that he was ready for "firm measures" and described the latest currency moves as speculative. He said there was no specific reason driving the yen to its latest record against the dollar.
Japanese corporate executives and policymakers have voiced increased alarm over the yen's steady climb past a succession of records, largely driven by safe-haven flows fueled by continued uncertainty about Europe's ability to contain its debt crisis.
"I have said many times, if forex moves do not reflect the economic fundamentals and speculative moves last, Japan will take firm measures," Azumi told reporters.
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