Japan Finance Minister Says Ready To Take All Possible Steps On Yen Moves

TOKYO, March 13 (Bernama-Kyodo) -- The Japanese government is ready to implement all possible steps on foreign exchange at any time and under any conditions, Finance Minister Satsuki Katayama said Friday, with the US dollar trading in the lower 159 yen level amid the conflict in West Asia, Kyodo News reported.

"We are in closer contact with US authorities," Katayama said at a press conference, noting the government is keeping in mind the impact of rising crude oil prices on people's livelihoods.

The US currency has been extending gains, with dollar buying in times of crisis spurred by concern about a prolonged conflict following the launch of US and Israeli attacks on Iran at the end of February.

Traders are also bracing for a possible currency intervention by Tokyo or Washington after the U.S. Federal Reserve confirmed it had conducted a "rate check" on the dollar-yen pair in January.

-- BERNAMA-KYODO