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JPY Daily News
Yen Free Fall Continues
Thursday, 7 Jan 2010
The yen fell against against most of its major currency pairs yesterday as signs of a global economic rebound eroded demand for the Japanese currency as a haven and Finance Minister Hirohisa Fujii resigned.
The yen came under pressure after news of Japanese Finance Minister Hirohisa Fujii's resignation. His departure could add to challenges for the Japanese government as it wrestles with deflation, a fragile economy and huge public debt.
Most analysts expect little impact on Japan's currency policy, which is controlled by the finance ministry. But some say Deputy Prime Minister Naoto Kan, who will succeed Fujii, may be less tolerant of letting the yen rise and putting at risk a fragile export-led recovery.
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