Tokyo -- Japanese Prime Minister Naoto Kan said Thursday that the escalating value of the yen against the U.S. dollar had become a cause for concern.
Kan, while on vacation, spoke on the telephone to Chief Cabinet Secretary Yoshito Sengoku, Kyodo News reported. During the conversation, Kan said the yen's appreciation was "too rapid," a government official said.
Japan's Vice Finance Minister for International Affairs Rintaro Tamaki said Thursday that "financial market conditions at home and abroad" were part of a discussion early in the day with Bank of Japan Executive Director Hiroshi Nakaso, the newspaper said.
Neither Kan nor Tamaki indicated Japan would enter the currency market in an attempt to devalue the yen.