TOKYO (Reuters), a Japanese senior government official claimed Wednesday there were no good or bad exchange rate movements. This suggested that Tokyo wasn’t ready to act immediately against the weaker yen. In an interview with Reuters Seijikihara, Deputy Chief Secretary to the Cabinet reiterated authorities’ refrain that sudden movements in currency rates were not desirable and said the government would be closely monitoring the effects of a softer yen.

When Kihara was asked about the growing concern that Japan’s falling yen is a problem, Shunichi Suzuki, Japan’s finance minister, replied: “There are no good or bad exchange rates.”

The reason for the weak yen was not speculated on by him, but he said that the answer is beyond the reach of the government. He added that currency authorities had to take appropriate action on a daily base.

One point in time, the dollar climbed to a two-decade record high of 129.43yen on Wednesday. That’s compared to around 114yen at March’s beginning.