Economics
Yen Falls for Second Day as Aso Says Market Stability Important
- Finance minister says rapid gyrations aren’t good for economy
- Yen at a level where jawboning ‘likely’: Mizuho Securities
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The yen fell for a second day against the dollar after Japanese Finance Minister Taro Aso said Tuesday stability in foreign-exchange markets is important.
Japan’s currency weakened against its 16 major peers after Aso told reporters in Tokyo that rapid gyrations in exchange rates aren’t good for the economy. The yen jumped on Friday after the Bank of Japan disappointed investors by leaving its bond-buying and negative interest rate policies unchanged, extending its run as the best performing developed-market currency this year.