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US Treasury says Japan should refrain its Yen devaluation
FXstreet.com (San Francisco) - In the Report to Congress on International Economic and Exchange Rate Policies released by the US Department of the Treasury, US raises weak JPY concerns and warnings Japan to stop its Yen devaluation. According to the official statement, Japan should refrain from competitive devaluation.
They advice Japan not to engage in large scale bond buying programs as the Nipon country shouldn't print $80 billion in cash per month.
Finally, the US Treasury says they "will closely monitor Japan's currency policy." And affirmed that the United States will press Japan to refrain from the devaluation and to use domestic instruments for monetary.
