SG Talk

Exclusive: U.S. treasury chief says 'beggar thy neighbor' policies should not be used

July 27, 2024 08:01 JST
RIO DE JANEIRO -- Japan's efforts to shore up the yen are different from the deliberate currency weakening that has long been a U.S. concern, U.S. Treasury Secretary Janet Yellen suggested to Nikkei in an exclusive interview.

Yellen spoke with Nikkei while in Brazil for a meeting of Group of 20 finance ministers and central bankers.

https://asia.nikkei.com/Editor-s-Picks/I...31228701-1

Often manipulation is to weaken a currency to have export advantage. Thjsnis opposite.

This is no joke like 6% move in one day.
Such a massive move for currency is not seen since Asian Crisis.

Also notice the dollar dis not recover much after the bashing.