August 25, 2015 / 12:41 AM / 4 years ago

Japan's Amari: yen being bought as safe haven, shows economy is strong

TOKYO, Aug 25 (Reuters) - Japanese Economics Minister Akira Amari said on Tuesday that investors are buying the yen as a safe-haven asset, which shows that Japan’s economic fundamentals are strong.

Amari, speaking to reporters, said a bubble had formed in China’s stock market and that stock prices are now adjusting lower.

He also said it was up to the Bank of Japan to decide whether or not to ease monetary policy again.

The yen spiked to a seventh-month high against the dollar on Monday as investors, worried about the slowdown in China, sought the Japanese currency as a safe haven against risks. (Reporting by Stanley White; Editing by Chang-Ran Kim)

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