Yen Strengthens as Abe Adviser Says 105 Per Dollar Appropriate

The yen climbed for a third day against the dollar as an adviser to Japan’s prime minister added his voice to the chorus warning that the currency has weakened far enough.

An exchange rate of 105 per dollar would be “appropriate,” Koichi Hamada, a consultant to Shinzo Abe on economic policy, said in an interview with Bloomberg Tuesday, echoing comments he made on BS Fuji television Monday evening in Tokyo. He told Bloomberg he doesn’t think the yen will fall much further, and 125 per dollar wouldn’t be justified. Hamada said in the television interview that there’s “no need to force” inflation to the Bank of Japan’s 2 percent target.