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Japan's new finance minister: No longer insists on the view that "USD/JPY should be between 120-130".
Jin10 data reported on October 30, Japan's new Finance Minister Shunichi Katayama stated on Thursday that she would not stand by her remarks made in March. At that time, she suggested that the “real value” of the yen was closer to 120-130 yen per dollar. She explained that as the current Finance Minister responsible for exchange rate policy, she could no longer endorse those comments. Katayama stated, “In my current position, I clearly cannot support my past remarks.” When Katayama's comments were made in March, the yen had fallen to about 150 yen per dollar. After the Bank of Japan decided to keep interest rates unchanged, the yen recently weakened further, with the latest trading price of USD/JPY at 154.20.