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4 May 2016
Japan ex-MOF official: Yen cannot be said to be either strong or weak right now
The Nikkei (Japan press) citing comments from a former Japanese vice minister of finance for international affairs in charge of currency policy.
Key Quotes:
Fellow Group of Seven nations would be unlikely to accept moves by Japan to stop the yen's appreciation under the current economic conditions
While the yen was excessively strong when it traded in the range of 70 to the dollar in the past, it was excessively weak in the 120 range
Based on effective exchange rates, the yen cannot be said to be either strong or weak right now
While there are concerns that the global economy may be weakening, the threat is not as serious as the Lehman crisis
Key Quotes:
Fellow Group of Seven nations would be unlikely to accept moves by Japan to stop the yen's appreciation under the current economic conditions
While the yen was excessively strong when it traded in the range of 70 to the dollar in the past, it was excessively weak in the 120 range
Based on effective exchange rates, the yen cannot be said to be either strong or weak right now
While there are concerns that the global economy may be weakening, the threat is not as serious as the Lehman crisis