Geithner Says Japan Isn’t to Blame for Global Currency Tension
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U.S. Treasury Secretary Timothy F. Geithner said Japan didn’t fuel international tensions when it intervened in the foreign-exchange market last month.
The Treasury chief said today there’s a “damaging dynamic” at work in currency markets as countries race to limit appreciation. When asked whether he thought Japan had “set the fire” for this dynamic, Geithner responded, “I don’t, no” in remarks at the Brookings Institution.