Japan not manipulating the yen, Suga says in response to U.S. Treasury move

Japan does not manipulate its currency, Chief Cabinet Secretary Yoshihide Suga said Monday.

The U.S. Treasury Department’s decision to keep Japan on its monitoring list for currency policy does not mean that Tokyo is being asked to do something in response, the government’s chief spokesman said at a news conference.

The Treasury Department, while referring to the yen’s recent appreciation, on Friday said, “There is little evidence that the yen is overvalued. The real effective yen is 20 percent weaker than its 20-year historical average.”

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