Thursday, March 06, 2008

Yen too high

What do you wanna bet that Japan is not ready to intervene to prevent competition---sorry confusion---in the market sometime soon? That would be so unlike China that Japan (and others) criticize for manipulating the currency. I could be wrong though since Japan has never done such a thing before....

Japan's finance and economy ministers expressed displeasure at the yen's rapid rise against the U.S. dollar, in a sign they are getting more worried about the blow it may deal to Japan's slowing economy. WSJ

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