Japan's top financial diplomat has rejected claims that the country's new government orchestrated a drop in the yen, which critics have warned could spark a global currency war.
A money dealer under a foreign exchange rate board quoting 94.94-99 yen against the euro in Tokyo on July 23, 2012. Japan's top financial diplomat has rejected claims the country's new government orchestrated a drop in the yen.
"Japan has no intention whatsoever of competitive devaluation of the yen," Takehiko Nakao, vice minister of finance for international affairs, said in an interview with the Wall Street Journal published Thursday.
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