The yen is in a phase of its one-
sided strength being corrected, Japanese Finance Minister Taro Aso
The government of Japanese Prime Minister Shinzo Abe puts top priority on addressing deflation and the yen's strength and it needs to work on this in cooperation with the Bank of Japan, Aso told reporters in Naypyidaw, the capital of Myanmar.
The yen's fall to a 29-month-low of 87 to the dollar in recent sessions was because risks such as the so-called fiscal cliff in the United States eased, Aso said.
Rapid swings in foreign exchange rates are not desirable and exchange rates need to be stable, Aso said.END
Most Popular Stories
- AIG to Create 230 Jobs in Charlotte
- Bipartisan Negotiators Reach Modest Budget Agreement
- Justin Bieber Visits Typhoon Victims, Plays Concert
- Senate Dems Move Forward With Obama Nominees
- Russia Says Nyet to Canada North Pole Claim
- New Obama Aide to Focus on Climate Change
- Obama Nominee Confirmed for D.C. Appeals Court
- MasterCard to Split Shares, Raise Dividend
- GOP, Dems Strain to Unearth a Modest Budget Pact
- Office Depot Moving HQ to Florida