{"id":807,"date":"2010-01-08T22:41:42","date_gmt":"2010-01-09T03:41:42","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=807"},"modified":"2010-01-08T22:41:42","modified_gmt":"2010-01-09T03:41:42","slug":"japan-returns-to-a-weaker-yen-policy","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2010\/01\/08\/japan-returns-to-a-weaker-yen-policy\/","title":{"rendered":"Japan Returns to Weaker Yen Policy"},"content":{"rendered":"<p>(Repost from January 7, 2010)<\/p>\n<p>Naoto Kan, Japan\u2019s new Finance Minister, took office today and promptly requested that currency traders sell the yen. This stance further supports September\u2019s <a href=\"http:\/\/drduru.com\/onetwentytwo\/2009\/09\/28\/concerns-over-strong-yen\/\">backtracking from an implicit stronger yen policy<\/a> earlier suggested by out-going Finance Minister, Hirohisa Fujii. Japan has now officially returned to the de facto competitive devaluation that underlies the currency stance of most countries during the global economic recovery. Kan went so far as to give markets a specific target:<\/p>\n<blockquote><p>&#8220;Kan said many Japanese companies are in favor of the dollar trading around 95.00 yen, and that he will work with the Bank of Japan to get the currency to \u2018appropriate\u2019 levels. The dollar spiked to 92.63 yen, from 92.15 yen before Kan spoke.&#8221;<\/p><\/blockquote>\n<p>Kan\u2019s reference to the interests of Japanese companies confirms <a href=\"http:\/\/drduru.com\/onetwentytwo\/2009\/09\/25\/assorted-thoughts-trades090925\/\">my earlier claim<\/a> that exporters and pro-mercantile forces would succeed in applying the necessary pressure to align Japan\u2019s government behind a weaker yen.<\/p>\n<p>Be careful out there!<\/p>\n<p>Disclosure: long USD\/JPY<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Repost from January 7, 2010) Naoto Kan, Japan\u2019s new Finance Minister, took office today and promptly requested that currency traders sell the yen. This stance further supports September\u2019s backtracking from an implicit stronger yen policy earlier suggested by out-going Finance Minister, Hirohisa Fujii. Japan has now officially returned to the de facto competitive devaluation that &#8230; <a title=\"Japan Returns to Weaker Yen Policy\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2010\/01\/08\/japan-returns-to-a-weaker-yen-policy\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[20],"tags":[150,138],"class_list":["post-807","post","type-post","status-publish","format-standard","hentry","category-forex","tag-japanese-finance-minister","tag-japanese-yen"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Japan Returns to Weaker Yen Policy - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2010\/01\/08\/japan-returns-to-a-weaker-yen-policy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan Returns to Weaker Yen Policy - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(Repost from January 7, 2010) Naoto Kan, Japan\u2019s new Finance Minister, took office today and promptly requested that currency traders sell the yen. 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