Hiromi Yamaji, Chief Executive Officer of Japan Exchange Group Inc. criticized the weaker Yen while citing the receding benefits of the softer currency.

“The Yen is too weak and its benefits for Japanese stocks are diminishing while negative economic side effects are starting to show,” said the chief of Japan’s stock exchanges on late Wednesday per Bloomberg.

Japan’s Yamaji also flagged a negative economic impact on Japan’s import bill due to the softer Yen.

“It’s no longer such a big tailwind for manufacturers like automakers, which have factories all around the world,” added Japan’s Hiromi Yamaji.

Market reaction

USD/JPY paid a little attention to the news as bears take a breather around 144.80 after falling the most in six weeks the previous day.

Also read: USD/JPY slides further below 145.00 after US data