Reuters: US Dollar Report: Japan finmin: govt must always keeps fiscal discipline in mind

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Japan finmin: govt must always keeps fiscal discipline in mind May 24th 2013, 00:00 TOKYO | Thu May 23, 2013 8:00pm EDT TOKYO May 23 (Reuters) - Japanese Finance Minister Taro Aso said on Friday that the government must always keep fiscal discipline in mind. He said the government has used stimulus spending to help the economy, but if it continues with big fiscal spending this could hurt trust in Japan's public finances. Aso also said that he would not comment on recent moves in stocks, bond yields and currencies as his comments could affect financial markets. Japan's Nikkei share average plunged 7.3 percent on Thursday, its biggest one-day percentage drop in two years, due to worries China's economy is slowing. The dollar fell to a one-week low against the yen of 101.43 yen, down over 1.5 percent before recovering to around 101.80 as some speculative buyers emerged. The 10-year JGB yield rose to 1.000 percent, its highest level since early April last year, and then fell to 0.855 percent on Thursday.

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