Japan ready to take action if needed

A strong JPY has a significant impact on Japanese exports, says Finance Minister Azumi.

OCBC Treasury Research noted:

Finance Minister Azumi said that a strong JPY has a significant impact on Japanese exports and that the government is ready to act to take action if needed. Note that BOJ Shirakawa was reported to have an unscheduled meeting with PM Noda this morning.

Last week, Shirakawa has also expressed concerns that a strong JPY would affect export growth this year but reiterated that the domestic economy remains stable at this juncture.

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