Naoto Kan knows all, but he ain't tellin'

Japan's Finance Minister is once again hinting at intervening in the currency markets to protect Japanese exports.

No, not really---"to protect Japanese exports" is just a childish, flippant remark that I made. It was unfair and tends to make Natto Kan of the new DPJ-led government look like some old retread from the LDP years.

The reason that Mr. Fermented Beans made his remarks is that:

"In general, it is desirable for exchange rates to stay at an appropriate level in terms of international trade, and it is undesirable if the currency moves far off that level,"...

"I think we must closely watch developments in the currency market and ensure that the yen will not become excessive," EuroAsiaReview

He said that the government has no clue plan to intervene and refused to explain to the world what the appropriate level of the yen is. After learning of the sizzling-hot economic figures released yesterday, I personally would estimate that the yen should strengthen against the dollar to something like ¥20 per buck.