U.S., Japan Clash Over Yen Policy at G-7 Meeting
- 8 years ago
Differences between the U.S. and Japan over the yen surfaced again Saturday, underscoring the difficulty the world’s leading economies face as they try to coordinate efforts to stoke global growth.
Japan and the United States are at logger-heads over currency policy with Washington saying Tokyo has no justification to intervene in the market to stem yen gains, given the currency's moves remain "orderly".
The rift was on full show at the G7 finance leaders' meeting in Sendai, northeastern Japan, with U.S. Treasury Secretary Jack Lew saying he did not consider current yen moves as "disorderly" after a bilateral meeting with his Japanese counterpart.
Japan and the United States are at logger-heads over currency policy with Washington saying Tokyo has no justification to intervene in the market to stem yen gains, given the currency's moves remain "orderly".
The rift was on full show at the G7 finance leaders' meeting in Sendai, northeastern Japan, with U.S. Treasury Secretary Jack Lew saying he did not consider current yen moves as "disorderly" after a bilateral meeting with his Japanese counterpart.