TOKYO: Japan’s efforts to curb the yen’s strength through currency market intervention have reached a crossroads, with its Group of Seven (G7) partners calling for flexible exchange rates and a new finance minister taking charge.
Signs that Japanese authorities were finding it difficult to continue their large-scale yen selling intervention in the wake of the weekend G7 meeting pushed up the yen by more than 2% against the us dollar to 21/2-year highs yesterday.
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