Aso Says Pace of Yen Decline Too Fast With G-20 Set to Meet
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Japanese Finance Minister Taro Aso said the pace of the yen’s weakening has been too fast, speaking a week before a meeting of global finance chiefs where Japan’s currency stance is forecast to be an issue.
Aso’s comment to reporters in Tokyo today came after he earlier told lawmakers the government hadn’t anticipated a rapid move to around 90 per dollar. The yen slumped 13 percent since mid-November in anticipation of monetary stimulus advocated by Shinzo Abe, who took office as prime minister in December. It rose as much as 1.6 percent today, the most since March 2011.