Japan rejects Trump accusation of devaluing yen in currency war

The US president, who said countries ‘play the market while we sit like a bunch of dummies’, signals possible retreat from strong dollar policy

Japan has rejected Donald Trump’s claims that Tokyo was deliberately weakening the yen to gain an unfair trade advantage over the US.

Trump told a meeting of pharmaceutical companies on Tuesday that Japan, along with China and Germany, were guilty of “global freeloading” for using regulation and currency devaluation in their trade dealings with the US.

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