Finance minister Yosano says it is desirable for forex rates to reflect Japan’s economy. A strong yen helps restrain import prices but hurts exports, he says. Not to much new in these comments. They are more remarkable for what was left unsaid: a strong protest over a too-strong yen.
USD/JPY trades at 97.20 after reaching 0.9800 early in the session after a fierce bounce from just below 0.9600.
