It’s 1984.


Breaking News (from the Financial Times):

G7 reaffirms commitment not to devalue currencies for domestic gain.

Finance ministers and central bank governors of the Group of Seven rich economies have reaffirmed a commitment not to seek to devalue their currencies for domestic gain.

After an informal two-day gathering in a country house hotel outside London with no communiqué, participants said on Saturday they were reassured by Japan that its revolutionary new economic strategy was not intended to weaken the yen.

And the results:

yen

What planet do these central bankers think we live on?

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