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By MarketWatch

NEW YORK (MarketWatch) — Japan’s finance minister said Saturday that the country’s government would take action to stem the yen’s rise when needed, according to a published report.

Reuters quoted Yoshihiko Noda saying on Japanese television, “Our statement that we would take decisive steps when needed says it all.”

Reuters reported that currency traders are becoming wary of the yen after it hit a 15-year high against the dollar, as Japanese officials have said they may take action, typically a code for intervention, said the news agency.

Prime Minister Naoto Kan is in a party leadership contest with Ichiro Ozawa set for a Sept. 14 vote. The winner will likely be prime minister. In his comments Saturday, Noda said that Kan and Ozawa have the same view of what to do about the currency.

Regards,

Don