Jun
09
Kuroda Says Hard to See Yen’s Real Effective Rate Falling More
ByBank of Japan Governor Haruhiko Kuroda said Japan’s real effective exchange is already very weak and that it’s hard to see it falling further.
The yen has already dropped to levels it was at before the collapse of Lehman Brothers Holdings in 2008, Kuroda told lawmakers in the Japanese parliament on Wednesday.
The yen surged versus the dollar after Kuroda spoke and traded at 123.26 to the U.S. currency at 1:38 p.m. in Tokyo. Earlier Wednesday it had been at 124.62.
A currency’s real effective exchange rate is adjusted for inflation rates and trade with other nations…
