Investors trading the Japanese yen on Tuesday got a bad case of whiplash, after a series of statements from top policy makers first appeared to tacitly approve, then criticize, Japan’s quest for a cheaper currency. The result was a drop in the yen to near a 3 year low in early morning trading in New York, followed by a jump of almost 1% in just under 2 minutes a few hours later. The conflicting statements came at a tense time in currency markets. Japan and other developed countries have been pouring money into their financial system, pushing down their currencies in the hopes of spurring their economies. Though they have … Continue reading Matthew Walter, Ira Iosebashvili