Japan will buy bonds issued by the European Stability Mechanism to help weaken the yen, Finance Minister Taro Aso said. The bond transactions will be funded by the country’s foreign exchange reserves, Aso told reporters today in Tokyo. The nation hasn’t decided on the purchase amount, he said. Buying ESM bonds may help Prime Minister Shinzo Abe push down the yen while avoiding criticism of his currency policies from trading partners such as the U.S. and South Korea. “The Europeans would be happy to see Japan buy ESM bonds, so Japan can avoid criticism from abroad and at the same time achieve its objective,” said ... (full story)