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Japan's top financial diplomat voices concern on strong yen

Masatsugu Asakawa seeks to reaffirm currency truce at G-20

Masatsugu Asakawa, vice minister of finance for international affairs.

TOKYO -- Japan's point man on currency diplomacy sees the yen's recent surge as excessive and wants to make sure that the world's leading economies will not engage in a beggar-thy-neighbor policy.

"I cannot help but assess the [yen] movements as one-sided," Masatsugu Asakawa, vice minister of finance for international affairs, told The Nikkei in an interview Tuesday. He nonetheless indicated plans to reaffirm the agreement among the Group of 20 major economies to avoid currency wars.

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