Noda) has been reluctant to authorize the implementation of the intervention. But it faces from the Office of Kan strong pressure, especially Chief Cabinet Paradise Valley by the people (Yoshito Sengoku) the pressure, wild Tianjia Yan agreed intervention, and instructed the Bank of Japan (Bank of Japan) to intervene by selling yen to.
Japanese authorities to intervene in a week ago, several of the Japanese Finance Ministry officials also did not interfere with the performance of a very high enthusiasm. One official told Dow Jones Newswires that the yen-dollar exchange rate has not yet reached abnormal levels. Another official said the rally in the yen against the dollar, consistent with fundamentals.
There are various indications that the U.S. may have to keep calm, partly because in order to prevent the Group of Twenty (Group of 20,
Referred to as G20) before the meeting to convey the message that there are differences between developed countries. Expected when the United States and Europe will put more pressure on China to revalue its currency. G20 finance ministers will meet later this week in South Korea, G20 summit will be held next month in South Korea.
Some analysts said the economic situation in Japan can be grounds for further intervention, because the yen's strength has been totally inconsistent with the domestic situation of weak economic fundamentals, Finance Minister, according to the Japanese economy, Hai Jiang Tian Wan (Banri Kaieda) that the Japanese economy has entered a long period of very slow growth stage.
However, the global exchange rate tensions also make Japan more and more difficult to take action.
Emerging markets in developed economies to push down interest rates to ease the deflationary pressure in the way more and more dissatisfied, because the developed economies of the loose monetary policy caused a lot of liquidity being poured into emerging markets, thus pushing up the value of emerging market currencies, and may birth of asset price bubbles.
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