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Japan is looking at what is driving the yen’s fall against the U.S. dollar and will take “necessary” action if needed, Finance Minister Shunichi Suzuki said Thursday after the Japanese currency tumbled to its lowest level in over 37 years. Suzuki said “rapid and one-sided” yen moves are undesirable, adding that he has “strong concerns” about the impact of the yen’s depreciation on the economy. Japanese authorities are keeping tabs on developments with a high sense of urgency, he said, amid market vigilance that they could intervene again.

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