'Currency wars': new phase with US Treasury action?

Frankfurt

SO-CALLED "currency wars" appeared to have entered a new stage at the weekend after the US Treasury Department announced that it was including Japan and China among five economies in a new US government list used to monitor what Washington calls potentially "unfair" practices in foreign exchange policy.

Japanese Finance Minister Taro Aso declared that Japan's actions in the currency markets would not be constrained by the US move, and that it would continue to act as necessary on policy regarding the yen exchange rate.