JAPAN AGENCY URGES WATCH ON YEN RISE EFFECTS
Japan should look out for possible
effects of the yen's recent sharp rise on Japan's economy as
growth remains slow, the government's Economic Planning Agency
said in a monthly report submitted to cabinet ministers.
    EPA officials told reporters the underlying trend of the
economy is firm but growth is slow due to sluggish exports.
    Customs-cleared exports by volume fell 4.9 pct
month-on-month in February after a 2.8 pct fall in March.
    The government must take adequate economic measures to
expand domestic demand and stabilise exchange rates in a bid to
ensure sustained econonic growth, the report said.
    The report made a special reference to the yen's renewed
rise and its effect on the economy, the officials said, adding
the agency's judgement of current economic conditions has not
changed since last month.
    The EPA said last month Japan's economy is beginning to
show signs of bottoming out, conditional upon exchange rates.
    The dollar fell below 139 yen in early trading today - a
post-war low.
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