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ECONOMY > Finance

Japan to assert weaker correlation between exchange rate and trade imbalance

  • May 30, 2019
  • , Nikkei
  • JMH Summary

On the Treasury Department’s announcement on Tuesday that it is keeping Japan on its list of trading partners whose currency practices merit close attention, Nikkei wrote that the GOJ is set to explain to the USG that the correlation between yen exchange rates and Japan’s trade surplus has weakened lately. The Finance Ministry is reportedly hoping that the Trump administration will accept its view that Japan’s trade surplus has more to do with return on investment than currency exchange rates. With regard to the Treasury report, an unnamed MOF official was quoted as saying: “As strong wording was not used in reference to Japan, this should not be viewed as U.S. pressure in the ongoing trade talks.”

 

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