Aso counters criticism of weak yen

JIJI

Finance Minister Taro Aso countered Monday the rising voices of criticism from the international community over the weakening yen.

“Petty complaints about the depreciation of the yen by ¥10 or ¥15 at the most is wrong and illogical,” Aso, also deputy prime minister, said at a press conference.

Responding to some international criticism that Japan is guiding the yen lower through monetary easing, Aso said that the yen’s weakening is occurring incidentally as Japan works on its top priority of beating deflation.

Aso has been saying that the yen is in a correction phase following its excessive appreciation.