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24 Aug, 2011

Japan tries to scare off yen speculators | Reuters


TOKYO, Aug 23 (Reuters) – Japan’s finance minister on Tuesday warned speculators against betting on further yen gains that could hinder recovery from the March earthquake, but his chances of keeping them at bay looked in doubt as ultra-easy U.S. monetary policy could keep the dollar weak.

Bank of Japan Governor Masaaki Shirakawa also declared that recent yen rises were driven in large part by speculative activity and would badly hurt the economy, signalling the bank’s readiness to ease monetary policy again if the recovery’s prospects are threatened.

via UPDATE 3-Japan tries to scare off yen speculators | Reuters.