U.S. Treasury Secretary Jack Lew stated that Japan has “growth issues” to deal with but, they need to be handled the right way to avoid competitive devaluations. (Reuters)
Going into the G7 Meetings, the U.S. has warned Japan to play fair when it comes to currency valuation.
“The Bank of Japan isn’t targeting currency rates, which are determined by the markets,” Bank of Japan Gov. Haruhiko Kuroda said.
In spite of how it has been accomplished, the Japan Yen weakness in the Forex market is becoming legendary. With the USDJPY crossing the critical 100.00 barrier (Actually crossed 101) and the EURJPY trading at a 3-year-low, the Yen weakness is definitely not showing signs of stopping.
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