DJ: Yen Weakens As Japan’s Top Currency Diplomat Threatens Action
The ‘currency diplomat’ in question is Vice Finance Minister Takehiko Nakao; from the Wall Street Journal: Japan’s Nakao Fires Back at Yen Critics
arguing his government’s focus is on grappling with the deflation that has gnawed at the domestic economy for two decades, not manipulating the exchange rate.
“Japan has no intention whatsoever of competitive devaluation of the yen,” … Nakao said in an interview. “Let me reiterate that the recent depreciation of the yen should be regarded as a correction from the one-sided and excessive appreciation that took place up to last year.”
