TOKYO–Japan’s Finance Minister Shunichi Suzuki stressed on Friday the need for currency stability and said he was watching market moves “carefully,” in the wake of the yen’s recent declines against the dollar. Domestic media and some market participants have warned of the potential demerits of a weak yen, which pushes up import prices and households’ cost of living at a time when the economy is recovering from the COVID-19 pandemic. “I won’t comment on the currency market itself, but stability is important above all,” Suzuki told reporters. “From that standpoint, we’ll closely watch currency market moves and their impact on the Japanese economy,” he said, when asked if the weakening yen was negative for the economy. Suzuki’s remarks came as the dollar hovered near a five-year high at 116.355 yen hit on Tuesday, after strengthening on expectations that the U.S. Federal Reserve will embark on steady interest rate hikes while …
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