TOKYO (Reuters) – Japanese Economics Minister Akira Amari said on Wednesday that recent foreign-exchange movements reflected the dollar’s gain rather than the yen’s fall, but that excessive currency moves are undesirable.
The yen fell to an eight-year low against the dollar this week after a batch of upbeat data bolstered the case for a U.S. interest rate hike this year. [FRX/]
Amari said there was no need to overly react to the exit strategy in the United States although it has an impact on the forex market.
(Reporting by Kaori Kaneko; Editing by Chris Gallagher)