Japan ready to act on yen as exports rise

Japan on Monday showed clear signs of recovery in spite of a weak global economy as it announced exports had risen for a second straight month. Exports climbed 2.4 percent year-on-year in September, the Finance Ministry said. The value of exports increased 12 percent and came to ¥5.98trn ($78.2bn) while imports totaled ¥5.68trn ($74bn) with […]

 

Japan on Monday showed clear signs of recovery in spite of a weak global economy as it announced exports had risen for a second straight month.

Exports climbed 2.4 percent year-on-year in September, the Finance Ministry said.

The value of exports increased 12 percent and came to ¥5.98trn ($78.2bn) while imports totaled ¥5.68trn ($74bn) with a trade surplus of ¥300.4bn ($3.9bn).

Meanwhile, Jun Azumi, Japan’s Finance Minister, said he will take “decisive steps” if needed to curb the yen’s rapid rise. He referred to the currency’s advance as a “completely speculative move that does not reflect the economic fundamentals at all.”