Japan forex czar says IMF floating rate label does not limit currency action

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TOKYO, May 7 : Japan's top currency diplomat Atsushi Mimura said on Thursday that the International Monetary Fund's classification of Japan as having a free floating exchange rate regime does not restrict the frequency of currency intervention.

Mimura, the vice finance minister for international affairs, was speaking to reporters when asked about recent currency moves and the IMF's classification, which restricts intervention to three times in half a year.

Mimura declined to comment on foreign exchange levels but said he continued to closely watch the foreign exchange market and that he was in daily contact with U.S. authorities.

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