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Japan econmin: will mull further bold steps if needed

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Reuters TOKYO
Last Updated : Jun 07 2013 | 7:05 AM IST

TOKYO (Reuters) - Japan's Economics Minister Akira Amari said on Friday that the recent volatility in currency and stock markets is driven by external factors.

"What's important is the fact that Japan's economy is steadily recovering," Amari told a news conference after a cabinet meeting.

"We will finalise a growth strategy shortly ... and steadily proceed with implementation," he said.

The dollar slumped to a seven-week low of 95.90 yen on Thursday as investors unwound long dollar positions ahead of a closely watched U.S. jobs report to gauge the health of the world's biggest economy.

The yen's ascent hit Tokyo share prices on Friday on worries about the damage to the export-reliant economy, and cast doubt on the success of Prime Minister Shinzo Abe's bold mix of fiscal and monetary stimulus.

(Reporting by Leika Kihara; Editing by Shinichi Saoshiro)

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First Published: Jun 07 2013 | 7:00 AM IST

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