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Japan’s Yen Intervention Violates Currency Accords, Dodd Says

Senate Banking Committee Chairman Christopher Dodd said Japan’s decision this week to intervene in the currency market breaks international accords.

“We saw Japan the other day begin to manipulate its currency,” Dodd, a Democrat from Connecticut, said today in an interview on Bloomberg Television. “This is a complete violation, of course, of the agreements that have been in place” on exchange-rate policies, he said.