Japanese Finance Minister Fujii says he never said a strong yen was good for Japan’s economy saying “My remarks have caused a lot of misunderstanding” adding “What I said after the G7 and G20 was that competitive devaluations were not good. I never said the yen should be this or that.”
Mr Fujii says his political task is to stabilise the value of the yen based on strength of the economy.
USD/JPY sits at 89.35, effectively where it closed out Wednesday in North America.
