UPDATE 1-Japan Noda: FX moves one-sided, to act when needed

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* Says watching market moves towards year-end, new year

* Dlr/yen near levels seen before Sept 15 intervention
(Adds quotes, details)

TOKYO, Dec 28 (BestGrowthStock) – Japanese Finance Minister Yoshihiko
Noda warned on Tuesday against creeping rises in the yen, saying
he is ready to act decisively against any rapid moves as a
stronger yen threatens to damage a fragile export-led economy.

Noda made the comments as the yen has steadily risen against
the dollar to approach levels seen before Japanese authorities
intervened in the currency market on Sept. 15 for the first time
in six and a half years.

The yen was trading at around 82.60 yen, hovering above
15-year highs below 81 yen but near the 82.87 yen rate seen
shortly before Japan stepped into the market.

“For the past several days, or a week, trade has been thin
but the movement has been one-sided, and I will closely watch
market moves towards the year-end and new year,” Noda told a news
conference after a cabinet meeting.

“Our stance remains unchanged that we will take decisive
steps when rapid moves occur.”

Noda also said the situation would have further deteriorated
if Japan had not conduct currency intervention on Sept. 15.

The dollar briefly fell to a three-week low of 82.64 yen
(JPY=: ) on Tuesday before recapturing some of its losses to trade
at 82.72 yen, down 0.1 percent on the day.
(Reporting by Tetsushi Kajimoto; Editing by Michael Watson)

UPDATE 1-Japan Noda: FX moves one-sided, to act when needed