TOKYO Feb 14 The yen is overvalued from a trade
perspective and the correction of the currency's strength is
essential for the Bank of Japan to achieve its 2-percent
inflation target, former deputy central bank governor Kazumasa
Iwata was quoted as saying by a Japanese ruling party source.
Iwata, considered one of the strongest candidates to replace
BOJ Governor Masaaki Shirakawa when he leaves his post in March,
said the dollar at 95 yen was appropriate from a trade
perspective, according to the Liberal Democratic Party source.
The dollar traded around 93.50 yen on Thursday after
hitting a 33-month high around 94.47 yen on Monday.