“Japan’s new finance minister upped the ante in the country’s war of words against the strong yen, lashing out at the U.S. and Europe for letting their currencies weaken dramatically and calling on the U.S. to strengthen the dollar. The dollar has recently staged a sharp recovery, as Mr. Abe’s pledge to strong-arm the Bank of Japan into easing monetary policy to weaken the yen has driven investors to sell off the yen. While that has cheered Japan’s struggling exporters, Mr. Abe’s drive toward a weaker currency has also raised concerns abroad that it could risk triggering a devastating global race to undercut currencies to protect export competitiveness.”
http://www.gata.org/node/12080
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