Amari Says Further Slide in Yen May Have Negative Effects
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Japan’s Economy Minister Akira Amari said a further slide in the yen would have negative effects after the currency’s 21 percent drop in the past six months, and signaled concern at the prospect of higher bond yields.
The yen was the biggest loser among 16 major currencies in the past six months, as Prime Minister Shinzo Abe pledged to beat deflation and the Bank of Japan doubled monthly bond purchases. Amari declined to comment on an appropriate exchange rate for the yen or say if it has declined so much that its negative effects need to be contained. The currency touched 103.31 per greenback on May 17, the weakest since October 2008, and rose 0.4 percent to 102.80 as of 8:30 a.m. in Tokyo.