Japan has "free hand" in dealing with excessive yen moves: finance chief

Finance Minister Satsuki Katayama said Tuesday that Japan has a "free hand" in dealing with the yen's recent sharp depreciation, indicating the possibility of currency intervention to stem its volatility.The yen dropped sharply to a one-month low of 157.78 against the U.S. dollar late last week, even as the Bank of Japan raised its policy interest rate."I don't believe recent moves reflect (economic) fundamentals, and I would describe them as speculative," Katayama said at a press conference, adding that the government would take measures against "excessive movements."The central bank broug…READ FULL ARTICLE