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Soaring Japanese yen unsettles G7 Soaring Japanese yen unsettles G7
(10 minutes later)
G7 finance ministers and central bankers have expressed concern at the "excessive volatility" in the exchange rate of Japan's currency, the yen.G7 finance ministers and central bankers have expressed concern at the "excessive volatility" in the exchange rate of Japan's currency, the yen.
In a statement issued in Tokyo, the G7 said they would co-operate as appropriate to bring stability to battered global markets.In a statement issued in Tokyo, the G7 said they would co-operate as appropriate to bring stability to battered global markets.
The yen has risen rapidly as investors flee riskier investments, Reuters news agency notes.The yen has risen rapidly as investors flee riskier investments, Reuters news agency notes.
It reached a 13-year high against the US dollar on Friday.It reached a 13-year high against the US dollar on Friday.
The yen slipped slightly against the dollar after the G7 comments while Japanese shares remained in negative territory.