TOKYO -- By accusing Germany and Japan of intentionally devaluing their currencies, the Donald Trump administration has targeted accepted monetary policy designed to maintain healthy inflation, a dangerous step that could upend an understanding long shared by major economic powers.
It was a moment Haruhiko Kuroda had been dreading. The Bank of Japan governor told reporters Tuesday after the central bank's two-day policy meeting that the new U.S. administration is still taking its first steps, and that the BOJ "will see how things play out." He knew anything he said could be misconstrued.
