Japan's Yamagiwa: Watching any impact of FX moves on economy

Japan's economy minister Daishiro Yamagiwa said on Tuesday that they are watching closely the potential impact of foreign exchange (FX) moves on the economy, as reported by Reuters.

Yamagiwa further added that he wouldn't want to comment on FX levels.

Earlier in the day, Bank of Japan (BOJ) Governor Haruhiko Kuroda argued that a weak yen would be beneficial for the Japanese economy as long as moves are not too sharp.

Market reaction

The USD/JPY pair showed no immediate reaction to these remarks and was last seen trading at 132.70, where it was up 0.6% on a daily basis.