The Japanese yen advanced against the U.S. dollar on Monday, climbing from its four-and-a-half year trough against its cross-Pacific rival after the economy minister of the globe's third-largest economy suggested monetary stimulus policies soon might be closing, Reuters reports.
Akira Amari, with the administration of prime minister Shinzo Abe, said further monetary stimulus might prove to be harmful to the economy of the Asian nation.
"It's being said excessive yen gains have been corrected a lot," the economy minister said during an appearance on the public broadcaster NHK on Sunday, according to Bloomberg. "If the yen extends losses a lot, people's lives will be negatively affected. It's our job to minimize that."
The central bank of Japan begins two days of policy meetings on Tuesday, and two key themes of discussion are forecast to be policy issues and bond buying.
Elected in December 2012, Abe also campaigned under the premise that he would implement monetary easing programs to spur Japan's economy. Since he was elected, the yen has lost about 21 percent of its value against the world's reserve currency.
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