Japan's Finance Minister Jun Azumi said Tuesday that speculative moves are pushing up yen and the currency gains do not reflect the country's economic fundamentals.
Speculative moves mainly influenced by weak outlook for the U.S. economy is driving the currency higher, Azumi was quoted as saying. He said the government is closely watching the developments.
Rapid appreciation of yen could hurt the economy and therefore, the Ministry will take decisive measures, if needed, he added.
by RTT Staff Writer
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