TOKYO, Sept 16 (Reuters) - The yen rose against the dollar on Wednesday after incoming Finance Minister Hirohisa Fujii said a strong yen has merits for Japan's economy, saying current forex moves are not rapid.
The dollar fell 40 pips to as low as 90.48 yen on trading platform EBS, nearing a seven-month low of 90.18 yen hit earlier this week.
After trimming some losses, the dollar was 0.5 percent lower from late U.S. trading on Tuesday at 90.62 yen. (Reporting by Masayuki Kitano)