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Japan watching closely for rapid yen rises: Ishihara

Published 01/12/2017, 07:48 PM
Updated 01/12/2017, 07:50 PM
© Reuters. Light is cast on a Japanese 10,000 yen note as it's reflected in a plastic board in Tokyo, in this picture illustration

TOKYO (Reuters) - The Japanese government is monitoring closely for rapid rises in the yen, Economy Minister Nobuteru Ishihara said on Friday.

"We will look at the currency market not in the short term but in the mid to long term and look at what effects it has on the economy," Ishihara told reporters after a regular cabinet meeting.

© Reuters. Light is cast on a Japanese 10,000 yen note as it's reflected in a plastic board in Tokyo, in this picture illustration

The dollar weakened to a five-week low versus the yen and other currencies, hit by a loss of confidence in the U.S. reflation trade a day after a news conference by President-elect Donald Trump.

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