JAPAN BUSINESS LEADERS SAY G-7 ACCORD IS WORRYING
  The leaders of two of Japan's top business
  groups said in separate statements the Group of Seven (G-7)
  accord reached in Washington yesterday is of deep concern to
  Japan because it shows the major industrial nations regard the
  yen's current level as appropriate.
      Eishiro Saito, chairman of the Federation of Economic
  Organizations (Keidanren), said the yen's present rate is well
  above adequate levels. He did not elaborate.
      Takashi Ishihara, chairman of the Japan Committee for
  Economic Development, said the accord will not prevent the yen
  from rising further.
      "We do not understand why the G-7 approved present rates as
  the yen has risen excessively since the Paris accord," Ishihara
  said.
      G-7 members Britain, Canada, France, Italy, Japan, the U.S.
  And West Germany said in a statement they consider their
  currencies are now within ranges broadly consistent with
  economic fundamentals.
      Saito called on each G-7 member nation to prepare to
  intervene in the market strongly enough to ensure exchange
  rates are stabilised at appropriate levels.
  

