Making Daily Headlines · Page 9
Japan's Currency Debate Refuses a Single-Author Credit
· New York time
Japanese Prime Minister Takaichi has rejected criticism linking her policies to the yen's weakness and rising government bond yields. The dispute concerns financial conditions in a major economy whose currency and debt markets matter to global investors and international business. The economic assessment requires separating political responsibility from the many forces affecting currencies and borrowing costs. A denial is part of that debate, not a substitute for examining those forces. Markets would be easier to explain if each movement arrived with a signed explanation. Instead, exchange rates and yields invite competing accounts while refusing to attend the press conference. Politicians must answer questions; the numbers retain the privilege of being complicated.
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