Japan’s Top Currency Diplomat: Weak yen has merits and demerits for economy

Commenting on the yen, Japan's top currency diplomat Masato Kanda said a weak yen has its merits and demerits for the economy.

Additional quotes

There are both positive and negative effects of a weak yen, it's hard to say which is bigger.

Weak yen pushed up the import cost of energy and food, increasing household burdens.

The value of a weak yen for exporters isn't as strong as in the past because they're not competing on low-cost items on price.

We need to guide policy and understand that the way the exchange rate affects the economy has changed.

Read: USD/JPY snaps two-day downtrend to regain 115.00 as Japan diplomat discusses weak yen