News Column

Japan's Aso Sees Yen Strength Being Corrected

Jan. 4, 2013

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

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Source: (C) 2013 Jiji Press English News Service. via ProQuest Information and Learning Company; All Rights Reserved

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