TOKYO – Finance Minister Satsuki Katayama said Wednesday the negative effect of the yen’s weakness in the foreign exchange market has become evident, as the Japanese currency fell close to a nine-month low against the U.S. dollar in the day.
“Although foreign exchange moves have both positive and negative effects on the economy, it is undeniable that the negative impact has become more evident,” Katayama said in a parliamentary session.
The dollar was firmer in the upper 154 yen level in Tokyo afternoon trading Wednesday.