Japanese policy makers on Friday became increasingly vocal about the strength of the yen after the Japanese currency hit a 14-year high against the dollar, fueling speculation that the government may step into the market to artificially weaken the currency.
The dollar briefly fell to 84.82 yen — surpassing Thursday’s low and prompting the country’s finance minister, Hirohisa Fujii, to tell reporters in Tokyo Friday that he was “extremely nervous and watching the market carefully.”
“There’s no doubt the market has moved too far in one direction,” Mr. Fujii said. “Moves right now are extreme, and it would be possible to take appropriate measures.”
Although he did not explicitly say that the government might intervene in the foreign exchange markets — by buying dollars for yen — such comments are often interpreted as “verbal intervention,” in which comments from top policy makers can swing market expectations and thus influence currency levels.
THE WEAK DOLLAR IS BAD.
BUT OBAMA IS DOING NOTHING TO STRENGTHEN IT.
DOES HE WANT IT TO COLLAPSE?
SURE SEEMS LIKE IT...
PRESIDENT BARACK HUSSEIN CLOWARD PIVEN OBAMA.