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This past week, the Group of Seven Industrialized Nations (G7) had an opportunity to address the falling Japanese yen, but it declined to do so. Now, the Group of Twenty (G20) has released a draft of its own communiqué -- in which finance ministers have again passed on a chance to call out Japan on its new easing policies.
Basically, the G20 agreed to pretend that countries aren't trying to out-devalue one another. According to the communiqué, Japan isn't trying to weaken its yen, and European officials aren't trying to talk the euro down. Meanwhile, back in the real world, Japan economy minister Akira Amari has stated that he'd like to see the Nikkei rise by 17% by the end of March. Amari wants the index to reach 13,000 over the next six weeks, putting him in the unusual position of being a G-7 policymaker who also provides price targets. ...410 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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