Recent information released from Japan has shown that the country has spent large amounts of money to decrease the appreciation of the Yen.
Even though Japan has vehemently denied it, many of the forex trading analysts have pointed the finger at Japan for the country allegedly trying to hold down the value of its money. But yesterday the Japanese finance minister announced that his government has not intervened for the past 21 months.
The information that was released showed that between 2003-2004, Japan spent over 35 Trillion Yen ($350 Billion US) in order to hold down the Yen’s appreciation versus the dollar.
This amount was purchased on the open market. However, since Japan’s influence in 2004, it seems as if there truly has been no intervention by the government against the Yen, and the Yen’s current market value is actually reflecting the state of the economy. For more information visit the article on forbes.com.
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