The G7 sends Japan a sympathy card
The world works to bring down the yen
By G.I. | WASHINGTON
THE G7 has waded into foreign exchange markets to push down the yen, its first coordinated currency intervention in more than a decade. The actions have, in the short-term, worked: the yen, which had risen to a post-war high of 77 per dollar a few days ago fell back to almost 82 and is now around 81.
Christine Lagarde, finance minister of France, which chairs the G7, reportedly wants discussion of other steps to help Japan including buying its bonds. How that could be done without also pushing up the yen clearly needs some thought.
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