Japanese Yen On A Tear

The Japanese yen has hit 14-year highs, proving that massive Japanese government debt can mean little when it comes to near-term currency strength.

Prepare for Japanese finance minister Hirohisa Fujii to fight back. In sharp contrast to American politics, Japanese officials must constantly advocate a weaker currency.

Bloomberg: “If currencies make abnormal movements, we may need to take appropriate action,” Fujii told reporters in Tokyo today. “Now we’re at the stage where we need to closely monitor movements in currency markets.”


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