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The yen is in a phase of its one-
sided strength being corrected, Japanese Finance Minister Taro Aso
said Thursday.
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
