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Japanese goverment to act on yen again 'if necessary'

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Japanese goverment to act on yen again 'if necessary'

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Japan’s Prime Minister Naoto Kan has said the Bank of Japan is ready and willing to intervene on the money markets again to drive down the yen. It follows a September drop in the manufacturing confidence index, the first in over a year, as exporters worry their goods are being priced out of their markets. On Wednesday the BOJ sold some two trillion yen, or 17.5 billion euros, to drive down the yen’s price.