Market News
Japan must fix 'misunderstanding' it is manipulating yen, says ex-BOJ chief Kuroda - REUTERS
By Leika Kihara
Summary
- Japan has made huge efforts to prevent yen falls, Kuroda says
- BOJ raising rates, not intentionally weakening yen
- BOJ taking 'right' step by raising rates gradually
TOKYO, March 8 (Reuters) - Japan must fix "any misunderstanding" held by U.S. President Donald Trump that its central bank was intentionally weakening the yen with monetary policy, former Bank of Japan Governor Haruhiko Kuroda said.
Trump said on Monday he had told Japan and China they could not continue to reduce the value of their currencies, as doing so would be unfair to the United States.
Asked about Trump's comment on Friday night, Kuroda told a Japanese television interviewer there were limits to what Japan could do to prop up the yen if the dollar were to rise on prospects of higher U.S. inflation from Trump's planned tariffs.
