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Lagarde: Euro crisis may push yen higher

07-06-2012 18:36 BJT

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The head of the International Monetary Fund, Christine Lagarde says the Japanese yen could be set to rise further, if a prolonged crisis in the euro zone drives investors away from riskier assets.

Lagarde has met Japanese Prime Minister Yoshihiko Noda ahead of an IMF meeting in Japan in October. She said the prolonged euro-crisis might have an unwelcome effect on the yen which would again be used as a safe heaven, and pushed up in value.

Recent gains have hurt Japanese exporters as the country struggles to get back on track after last year’s earthquake and tsunami. Lagarde praised Japan’s plans to revamp its finances, after the Japanese Prime Minister pushed through a plan to double the country’s sales tax.

The head of the International Monetary Fund, Christine Lagarde says the
Japanese yen could be set to rise further, if a prolonged crisis in the
euro zone drives investors away from riskier assets.

Editor:Zheng Limin |Source: CNTV.CN

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