Finance Minister Yoshihiko Noda said on Tuesday that Japan will continue to closely watch movements on the foreign exchange market and will cooperate as appropriate with other G7 members.
It was meaningful that the G7 authorities took joint action in intervening in the currency market last week, he told a news conference.
The G7 took coordinated intervention to stem the yen after it hit a record high against the dollar last week.
"We will cooperate as appropriate while closely watching market movements," Noda said.
The yen was broadly softer on Tuesday with markets wary of the chance of intervention, while the dollar skidded against most other currencies as investors embraced leveraged risk trades in stocks and commodity-linked currencies.
