Japan's 120 Yen Line-in-Sand Offers Currency Detente to Trump
- Japanese finance minister says yen is still on the strong side
- Yen has risen 2.7 percent against the U.S. dollar in 2017
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Japan’s government looks to be agreeing with Donald Trump that there should be limits to the yen’s decline.
As the U.S. and Japan spar over the link between exchange rates and export competitiveness, Japanese Finance Minister Taro Aso broke with convention on Wednesday by mentioning a specific level for the yen. He argued that the current level, about 114 yen per dollar, wasn’t weak, as the currency was still stronger than before the 2008 collapse of Lehman Brothers Holdings Inc.