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Correction of the Yen largely completed, Amari says

FXstreet.com (Barcelona) - Japan's economy minister Akira Amari crossed the wires over the weekend warning that "the yen's excessive strength has been largely 'corrected,' and further weakness could be harmful..."

The increase in jawboning by Japanese politicians is something to expect from now on, as it seems they are starting to feel as overwhelmed by the sheer velocity of Yen depreciation as bewildered currency commentators are, as the tsunami of Yen sellers takes no respite.

The comments from Mr. Amari suggest the government appears to be satisfied at the levels achieved by the Yen at present.

Economy minister Akira Amari, giving his personal take on the Yen slump, said, "the correction of the strong yen is largely completed. If the yen keeps on weakening a lot more, it will have a negative impact on peoples' lives."

He went on saying that if native impact on living costs noted, "it's our job to figure out how to minimize that," Mr. Amari said, cited by Nikkei. Mr. Amari even considered the option of importing shale gas from the U.S. and restarting nuclear reactors, the Nikkei adds.

With regards to the Japanese stock rally, Amari said it "has been a bit faster than we'd expected."

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