G7 now is determined pull yen up
Sonia Chopra
Sep. 17, 2006

The central banks plan to coordinate their activities to pull yen up from recent rough ride downwards.

Sadakazu Tanigaki, the Japanese finance minister said after the G7 meeting that there is no reason for Yen to fall like that. The Japanese currency must reflect Japanese state of the econmy and that calls for a 15 to 20% appreciation in the currency valuation compared to Euro and US Dollar.

The Japanese economy has nicely bounced back in recent days after a decade long deflation and total stagnation if not recession. The Yen has suffred badly in the last fifteen years. The Bank of Japan policies were to depress Yen to make room for exports to US and Western Europe. But that policy has changed and the Bank of Japan is planning to boost its currency.

G7 now is determined pull yen up
Sonia Chopra
The central banks plan to coordinate their activities to pull yen up from recent rough ride downwards.
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