By Megumi FujikawaTOKYO--?The Japanese government's focus when responding to moves in the yen will be based on how it affects people's lives and economic activity, the country's new finance minister has said. "We need to take necessary measures while closely watching the effects [of currency moves] on people's lives and economic activities, rather than responding to the foreign-exchange market itself," Katsunobu Kato said in an interview with Dow Jones Newswires and other media on Monday. The yen has swung wildly against the dollar in the past months due to speculation over the course of monetary policies in the U.S. and Japan, plus uncertainties over the global economic outlook. The dollar stood at 162 yen in early July and was last trading around 148.50 yen Monday. Write to Megumi Fujikawa at megumi.fujikawa@wsj.com(END) Dow Jones Newswires10-06-24 2350ET

Source: Wall Street Journal October 07, 2024 03:56 UTC