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Can the G7 Stabilize the Yen?

By experts and staff

Published
  • Benn SteilCFR Expert
    Senior Fellow and Director of International Economics
  • Dinah Walker
    Analyst, Geoeconomics

The G7 has expressed concern over the implications of excessive yen volatility for financial and economic stability, but fell short of promising coordinated action. The graph above illustrates the extreme nature of the yen’s rise. For example, the yen has appreciated 22% against the euro and 35% against the Aussie dollar in the last month alone. The G7 may have to intervene in foreign currency markets to restore stability.

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Nakamoto: G7 Warns on Yen Volatility

Froymovich: Yen’s Surge Raises Alarms

Rowley, Hall: Yen Keeps Rising

Editorial: Yen Caught in Carry-Trade Turmoil