Japan FM: G7 Intervention Was ‘Significant,’ ‘Effective’

Japan Finance Minister Yoshihiko Noda Friday expressed his country’s appreciation for the swift action taken by the G7 last month to halt the sharp appreciation in the value of the yen and prevent additional damage to the world’s third largest economy. “That situation was well appreciated by the G7 countries,” Noda told reporters during a bilateral meeting with U.S. Treasury Secretary Tim Geithner… “The joint consultative intervention done in the market by the G7 countries was significant and effective,” he added. – iMarketNews