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Japan escalates warning as yen continues to rise
Japanese Finance Minister Yoshihiko Noda warned on Thursday that recent yen strength does not reflect economic fundamentals, escalating a verbal campaign to cool the rising yen although traders saw little immediate chance that authorities would intervene directly in the market. The dollar tumbled to a four-month low against the Japanese currency after Federal Reserve Chairman Ben Bernanke on Wednesday signaled that the central bank was ready to ease monetary policy further if economic growth and inflation slow much more. "The movement doesn't reflect fundamentals and has been one-sided," Noda told reporters on ... (full story)
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