TOKYO -- The yen should not be considered a safe-haven currency and its recent decline against the dollar can only partially be attributed to the Japan-U.S. interest rate gap, Hiroshi Watanabe, former vice minister of finance for international affairs, told Nikkei in a recent interview.
Watanabe, who serves as president of the Tokyo-based Institute of International Monetary Affairs, discussed the outlook for the yen, the shifting dynamics of export industries and the underlying factors needed for a strong currency. He oversaw currency policy during his time at the Finance Ministry.
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