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35

Yen Rise Undesirable for Japanese Economy

Japanese Economics Minister Banri Kaieda said on Tuesday that the yen's rapid rise is undesirable

In Kaieda's opinion, rapid rise of the Japanese national currency may prevent achieving a self-sustainable recovery in the Japanese economy and beating deflation. According to Economics Minister, the government will take decisive action in the currency market if necessary.

Kaieda also said that Japan gained a certain understanding at the latest Group of Seven meeting on its explanation of its currency intervention.

Source : Reuters