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Kishida says rapid yen movements are 'undesirable'

Japan prime minister calls for long-term steps to mitigate currency's weakness

Japanese Prime Minister Fumio Kishida speaks to Nikkei at the prime minister's office in Tokyo on May 20. (Photo by Ken Kobayashi)

TOKYO -- Japanese Prime Minister Fumio Kishida said he sought stability in foreign exchange markets as the yen remains close to a 20-year low against the U.S. dollar.

"A rapid change in foreign exchange rates is undesirable from anyone's point of view," Kishida said in an interview with Nikkei at the Prime Minister's Office in Tokyo. "The lives of people and operations of businesses are impacted by elevated prices of commodities amid the weak yen."

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