March 24, 2020 / 5:38 AM / 8 days ago

Japan finance minister Aso makes rare comment vs dollar's 'single-handed' rises

FILE PHOTO: Taro Aso, Japan's deputy prime minister and finance minister, speaks at the Group of 20 (G-20) high-level seminar on financial innovation "Our Future in the Digital Age", on the sidelines of the G-20 finance ministers and central bank governors meeting in Fukuoka, Japan, on Saturday, June 8, 2019. Kiyoshi Ota/Pool via REUTERS

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said the dollar’s single-handed rises against other currencies were likely driven by investors’ anxiety over the coronavirus outbreak, which has triggered an inflow of funds into dollars from riskier assets.

“Everyone is buying dollars. That’s leading to declines in other currencies. Stocks and bond prices are both falling, which is something that has not happened before,” Aso told parliament.

“It’s probably investors’ anxiety” over the pandemic, Aso said, in explaining what was behind investors’ hoarding of cash particularly in dollars.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

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