Bank of Japan Governor (BoJ) Haruhiko Kuroda says he’s comfortable with the yen’s recent deprecation, noting the currency is merely in the process of correcting from excessive strength.
The Japanese currency has lost over 6 percent of its value against the U.S. dollar over the past three months amid a strengthening greenback. Earlier this month, it briefly broke through the 110 threshold for the first time in more than six years.
“[The] exchange rate movements are not excessive so far,” he told CNBC on Friday on the sidelines of the 2014 IMF/World Bank annual meetings in Washington DC.
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