May 24, 2016 / 1:56 AM / a year ago

Aso: Japan has no intention to devalue yen sharply, continuously

Japan's Finance Minister Taro Aso delivers his policy speech at the lower house of parliament in Tokyo, Japan, January 22, 2016. REUTERS/Toru Hanai

TOKYO (Reuters) - Finance Minister Taro Aso said on Tuesday that Japan has no intention to devalue the yen sharply and consistently.

Aso told parliament that the dollar/yen’s moving by 5 yen within two days is a one-sided move.

The yen was trading around 109.42 yen per dollar on Tuesday. It hit an 18-month high of 105.50 yen per dollar early this month.

Reporting by Sumio Ito, writing by Kaori Kaneko

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