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With the dollar again sinking toward post-war lows vs. the yen, Japan finmin Azumi steps up...

  • Thursday, February 2, 2012, 7:47 AM ET
    With the dollar again sinking toward post-war lows vs. the yen, Japan finmin Azumi steps up intervention threats and calls out the Fed's "pledge" to keep rates microscopic through 2014 as giving an invitation to traders to sell greenbacks. Dollar/yen remains lower on the day, -0.1% at ¥76.11.
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    The Japanese authorities are very inept at managing the level of their curriency. It would suffice to follow the example of the SNB and impose a min. exchange rate. But the BoJ is not on board, as it seems to me that the governor is actually in favor of a strong yen. I hope the strong yen will destroy Japan's industrial base and the country will then regret that it has not weakened the Yen aggressively to prevent that from happening!
    2 Feb 2012, 07:59 AM Reply Like
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