• Reuters

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Japan’s top currency diplomat Masato Kanda said a weak yen brings both merits and demerits to the economy due to the country’s changing export patterns and increasing reliance on imports.

The boost a weak yen gives to Japan’s export volumes has declined compared with the past, as manufacturers target shipments of high-end, state-of-the-art products overseas rather than compete with price cuts, said Kanda, the country’s vice finance minister for international affairs.

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