TOKYO (Reuters) – Japan’s top government spokesman on Thursday repeated that excessive moves in foreign exchange rates are undesirable as agreed by the Group of Seven (G7) nations.
Chief Cabinet Secretary Yoshihide Suga added at a news conference that the government would continue to closely monitor currency moves.
The yen weakened to an eight-year low against the dollar this week on expectations the Federal Reserve would raise interest rates later this year due to signs of a U.S. economic recovery. [FRX/]
(Reporting by Kaori Kaneko; Editing by Chang-Ran Kim)