Speech by Masaru Hayami, Bank of Japan, 24 July

SPEECH - In a speech titled 'The Challenges Facing Japan's Economy' Hayami said that the dollar's current weakness is not surprising given its history of volatility, though he hoped it will not fall further. He added that the dollar's recent weakness on the back of deficits in the U.S. budget and current account balance were reminiscent of big falls in previous decades, and said it was natural for people abroad to be wary of holding dollars at such a time.

The Challenges Facing Japan's Economy

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