Noda Silent on Currency Even as Yen Climb Clouds Japan Outlook

Japanese Finance Minister Yoshihiko Noda has refrained from commenting on the yen’s advance, departing from his predecessor’s attempts to curb volatility by speaking about movements in foreign-exchange markets.

When asked by reporters today about the currency, which has hovered near a seven-month high against the dollar since the European bank stress tests, Noda declined to comment other than to say that investors welcomed the results of the examination. He was also silent on the currency last week, even as fellow Cabinet ministers warned the movements could destabilize growth.