Govt ready to respond to yen falls as needed spokesperson
BOJ39;s Kuroda says recent sharp yen falls undesirable
Kuroda repeats vow to keep BOJ39;s policy ultraloose

TOKYO, June 13 Reuters Tokyo is concerned about sharp falls in the yen currency and stands ready to respond appropriately if needed, Japan39;s top government spokesperson said on Monday, issuing a fresh warning to markets.

The remark echoed Friday39;s joint statement by the government and central bank, but failed to avert a plunge in the yen to 135.22 against the dollar, the currency39;s lowest level since October 1998.

It39;s important that currency rates move in a stable way, reflecting fundamentals. But there have recently been sharp yen declines, which we are concerned about, Chief Cabinet Secretary Hirokazu Matsuno told a regular news conference.

We are ready to respond appropriately as needed, while communicating closely with each country39;s currency authorities.

Matsuno declined to comment on whether Tokyo would intervene to curb the sharp slump in the yen, however.

Unlike other major central banks, which are flagging aggressive interest rate hikes to tackle inflation, the Bank of Japan BOJ has repeatedly committed to keeping rates low, making Japanese assets less attractive for investors.

That increasing policy divergence has sent the yen down more than 15 against the dollar since early March.

Central bank chief Haruhiko Kuroda also warned of the disadvantages of yen declines, shifting…