Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Shirakawa Says Bank of Japan Is Monitoring Yen’s Appreciation

Don't Miss Out —
Follow us on:

June 4 (Bloomberg) -- 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.”

The yen climbed near a four-month high against the dollar last week, renewing concern that the currency’s advance will erode exporters’ profits. Japanese Finance Minister Jun Azumi declined to comment on whether authorities have intervened in currency markets or will do so after pledging last week to take “decisive” action when needed.

Japan’s currency traded at 78.17 per dollar as of 2:02 p.m. in Tokyo compared with a record 75.35 reached in October. The yen tends to strengthen in times of crisis and has advanced more than 6 percent against the dollar since mid-March.

To contact the reporter on this story: Toru Fujioka in Tokyo at tfujioka1@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.