URGENT: Japan keeping close tabs on forex moves as yen jumps

Japanese Finance Minister Shunichi Suzuki said Friday the government is closely watching developments in the foreign exchange market after the yen rose sharply against the U.S. dollar on market speculation of a policy change by the Bank of Japan.

Suzuki declined to say how Japanese authorities would respond, as his comments could sway forex markets.

The yen rose sharply to 141 per U.S. dollar overnight after BOJ chief Kazuo Ueda said Thursday he expects a “challenging” time ahead toward next year, a remark taken by financial markets as signaling that the BOJ is moving toward a tightening in mo…