Japan has no Plans for new Measures to aid dlr

Finance Minister Kiichi Miyazawa said Japan has no plans to take new emergency measures to support the dollar, other than foreign exchange intervention.

He also told reporters that many major nations yesterday intervened heavily to support the dollar against the yen.

Yesterday’s intervention was large in terms of the countries involved and the amounts expended, he said.

With the continued fall of the dollar against the yen, speculation had arisen in currency markets here that Japan might take new measures to support the U.S. Currency, such as curbing capital outflows.

Miyazawa said that yesterday’s news of a 4.3 pct rise in U.S. Gnp in the first quarter had been expected. Although the growth looks robust on the surface, the figures in reality are not that good, he said.

He said the ruling Liberal Democratic Party (LDP) is expected to come up with a final set of recommendations of ways to stimulate the Japanese economy before Prime Minister Yasuhiro Nakasone leaves for Washington next week.

Commenting on yesterday’s report on economic restructuring by a high-level advisory panel to Nakasone, Miyazawa said it was important to put the panel’s recommendations into effect.