The Japanese yen has risen to its highest value in relation to the United States dollar in one and one half years. The yen is increasing in value on foreign exchange markets; yet Japanese finance officials have supported policies aimed at limiting its rise. The appreciating value of the yen could hurt Japan’s efforts to increase inflation in the country. Some experts think rising prices could strengthen economic growth in the world’s third largest economy.
Japan’s money has traded at about 111 yen to one U.S. dollar in recent days. The yen has also risen in value against other major currencies, including the euro. The yen’s value has increased almost nine percent on foreign exchange markets this year. That is the biggest increase among the Group of 10 industrial countries during that period. FULL REPORT
