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Ex-BOJ Iwata says yen overvalued from trade perspective -LDP official
The yen is overvalued from a trade perspective and the reversal of the currency's strength is essential for the Bank of Japan to achieve its 2-percent inflation target, former deputy central bank governor Kazumasa Iwata was quoted as saying by a Japanese ruling party official. The comments weigh into a growing global debate on whether it is acceptable for Japan to pursue aggressive monetary easing if it effectively drives down the yen, fanning talk of a looming currency war if other countries follow suit to help their exporters stay competitive. Iwata, considered one of the leading candidates to replace BOJ Governor ... (full story)