OctaFX | OctaFX Forex Broker
Open trading account
Back

US Treasury says Japan should refrain its Yen devaluation

FXstreet.com (San Francisco) - In the Report to Congress on International Economic and Exchange Rate Policies released by the US Department of the Treasury, US raises weak JPY concerns and warnings Japan to stop its Yen devaluation. According to the official statement, Japan should refrain from competitive devaluation.

They advice Japan not to engage in large scale bond buying programs as the Nipon country shouldn't print $80 billion in cash per month.

Finally, the US Treasury says they "will closely monitor Japan's currency policy." And affirmed that the United States will press Japan to refrain from the devaluation and to use domestic instruments for monetary.

Forex: USD/JPY falls hard to intra-week low on US 'suggestions' to Japan

The US dollar is currently trading lower against the Yen as market has reacted to the US suggestions about the Japan competitive devaluation. The USD/JPY declined 80 pips in the last few minutes from 98.85 to test intra-week lows at 98.05. Currently the pair is trading at 98.30.
Read more Previous

Session Recap: Euro closes higher; US Treasury hurt the BoJ plan

Late in the day, the US Treasury published its report on exchange and rates policies and they said that Japan should refrain its Yen devaluation. The reaction was hard for the BoJ plan to weaken the Yen with the USD/JPY, EUR/JPY and GBP/JPY falling hard to trade close to weekly lows.
Read more Next
Start livechat