TOKYO (Reuters). -Japan will closely communicate with the United States of America and other countries in response to currency movements appropriately. Shunichi Suzuki from Finance said. He added that Japan was stepping up its warnings about sharp moves after the yen dropped to six-year lows in relation to the dollar.

After a Cabinet meeting, Suzuki spoke to journalists and stressed the importance for stable currency movements, stating that rapid changes were not desirable.

Suzuki stated that the government was closely monitoring currency movements, such as the weakening yen and their impact on Japan’s economy, with an urgency.

Group of Seven advanced economies (G7) have agreed that exchange rates will be set by the markets. They also intend to closely monitor market action and acknowledge that excessive volatility and disorderly movements can adversely affect economic and financial stability.

Suzuki said, “Based on G7 agreements, we’ll reply appropriately while closely communicating avec currency authorities from the United States of America.”