Currency Wars?

The G8 summit is taking place in County Fermanagh on 17th and 18th June. The summit website is here. According to Jeffrey Frankel, Japan's monetary stimulus and the associated sharp fall in the value of the yen will be one of the main items on the summit's agenda. However, he argues that there is not a currency war going on - Japan is simply engaging in expansionary monetary policy in order to stimulate its economy (article here).      

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