TOKYO (Reuters) - Japan should consider how to keep the dollar at around 85-90 yen, a senior Liberal Democratic Party (LDP) official was quoted as saying by Kyodo news agency on Friday, suggesting that the incoming government may try to avoid wide currency swings.
“I don’t think the weaker the yen, the better. We need to consider how to keep (the dollar) around 85-90 yen,” Shigeru Ishiba, secretary-general of the LDP, restored to power in Sunday’s general election, was quoted as saying in a TV program.
The yen has fallen almost 9 percent against the dollar since September as LDP head and incoming prime minister Shinzo Abe has raised market expectations of more expansionary policy and spending.
Reporting by Tetsushi Kajimoto