| Japan stepped up its currency intervention rhetoric on Tuesday, driving the yen lower despite doubts that the strategy would prove effective in the face of a sceptical market, global growth fears and US antipathy towards forex manipulation.
The yen dropped 0.8 per cent to ¥109.27 in response to comments in parliament by Taro Aso, finance minister, who said a persistent “one-sided” yen would trigger intervention. “[W]e are determined to stop it,” he said, adding the qualifier that there were no plans for a long-term intervention strategy...............................................Full Article: Source
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