The yen fell against other major currencies after the deputy economy minister in Japan, Yasutoshi Nishimura, said that a value of Y100 against the dollar would not be a problem for the country’s economy.
The comments came as Japan recorded its largest ever trade deficit in 2012, with a rise in the cost of imports and a drop in the value of exports due in part to the strong yen.
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Yen undermined by record export gap – FT.com
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