Shirakawa Says Bank of Japan Is Monitoring Yen’s Appreciation

Bank of Japan Governor Masaaki Shirakawa said the central bank is watching how the yen’s advance has been affecting the nation as Europe’s debt crisis and weaker U.S. economic data bolster demand for the currency.

We’ve been monitoring “the recent appreciation of the yen,” Shirakawa said at a forum in Tokyo today. “The bank carefully monitors the development of the foreign-exchange rate from the viewpoint of how it affects the economy through its impact on business sentiment.”