Japanese Economics Minister Kaoru Yosano said on Tuesday that large swings in the foreign exchange market were undesirable and that an excessive rise in the yen would hurt Japan's manufacturing sector.

"Because Japanese manufacturers depend heavily on external demand, an excessive rise in the yen would undermine their business plans," Yosano told a news conference after a cabinet meeting.

The dollar fell to a fresh four-month low versus the yen on Monday as U.S. lawmakers' delay in reaching a deal to raise the U.S. debt ceiling unsettled investors and fuelled demand for perceived safe-haven assets. (Reporting by Rie Ishiguro; Editing by Edmund Klamann)

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