Japan's new finmin says will monitor impact of rapid FX moves

Japanese authorities will monitor how rapid currency moves could potentially impact the economy and take action if necessary, Katsunobu Kato, the nation's newly appointed finance minister, said on Monday.

Asked about the yen's volatile moves since Japanese premier Shigeru Ishiba took office, Kato said the weak yen has both merits and demerits.

"We'll have to see how rapid currency moves would impact corporate activities and people's lives," he said, speaking to reporters in a group interview. "The government will consider what action should be taken while monitoring the impacts," the minister added.