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Yen at 135 Not Critically Bad For Japan, Ex-Forex Chief Says

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WATCH: Former Vice Minister of Finance for International Affairs Watanabe says he believes Japan will not make any intervention in the currency market.Source: Bloomberg

The Japanese yen weakening to levels of 135 against the U.S. dollar wouldn’t be critically bad for Japan’s economy, according to one of the country’s former chief currency officials.  

“Even 130, 135 is not so critically bad for the Japanese economy,” according to Hiroshi Watanabe, who served as currency chief in the Ministry of Finance until 2007. However “how long it’s going to stay there is quite important,” he told Bloomberg TV Tuesday.