Japan's FinMin: Yen fall not goal but result

FXstreet.com (Barcelona) - The Japanese Finance Minister Taro Aso, on weekend press headlines out of Tokyo, said the objectives from the current government are not intended to weaken the yen, but rather implement policy actions that can help to overcome a chronic two-decades deflation problem.

He added that the massive fall in the Yen value was the result of ongoing policies, but not the goal of it. The comments challenge growing concerns that Tokyo is trying to deliberately weaken the Japanese Yen in order to gain competitiveness against other industrialized countries, especially after the trade balance deficits the country has fell into in the past year.

Reporting on the latest comments from Japan's Finance minister, Antoni Slodkowski from Reuters, cites the politician: "We have launched policies aimed at ending deflation. As a result, the stock price has risen and the yen has weakened," Aso told Japanese public broadcaster NHK on Sunday. "(The yen weakness) is not the goal, the goal is to beat deflation," he said.