Fleeting and adaptable U.S. exchange policy!
7/26The U.S. Treasury Secretary Janet Yellen stated that what constitutes currency manipulation is the devaluation of one's own currency, and that Japan, which has conducted intervention to buy its own currency, is in a different situation. This has shifted Japan's previously negative stance toward yen-buying interventions, and we will explain the future USD/JPY exchange rate based on the evolution of U.S.-Japan currency policy up to now.
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