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As dollar dropped, Tokyo bit its tongue

Japan tries not to make waves for economic dialogue with Trump administration

Japanese Finance Minister Taro Aso speaks at the second round of the Japan-U.S. economic dialogue in Washington last October.   © Kyodo

TOKYO -- The curious decision by the Ministry of Finance late last month not to comment on a yen rally spurred by the U.S. Treasury secretary underscored Japan's struggle to size up the Trump administration's currency policy.

Market watchers widely expected senior Japanese officials to say something to keep the yen from rising too far after Steven Mnuchin told reporters Jan. 24 at the World Economic Forum in Davos, Switzerland, that a weaker dollar is "good" for American trade.

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