Number: RL33178
Title: Japan's Currency Intervention: Policy Issues
Authors: Dick K. Nanto, Foreign Affairs, Defense, and Trade Division 
Abstract: Japan's past intervention to slow the upward revaluation of the yen raised concerns in the United States and brought charges that Tokyo was manipulating its exchange rate in order to gain unfair advantage in world trade. This coincided with similar charges being made with respect to the currency of China. This report provides an overview and analysis of Japan's official intervention into currency markets, reviews various studies on the probable effect of that intervention, examines the charge that Japan has manipulated its exchange rate as defined by the International Monetary Fund (IMF), and reviews legislation and policy options.
Pages: 24
Date: March 25, 2008