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Japan Getting Calls From U.S. to Europe Not to Drive Down Yen
Japan will be reminded of its pledge not to drive down the yen when Group of 20 finance chiefs meet this week for the first time since the world’s third- largest economy intensified its campaign to defeat deflation. As G-20 finance ministers and central bankers prepare to convene this week in Washington, the U.S. Treasury is saying it will press Japan to refrain from competitive devaluation and European governments are urging it not to become too reliant on fiscal and monetary stimulus. The yen has fallen against all 16 of its most-traded peers since April 4 when the Bank of Japan (8301) surprised investors by ... (full story)
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