ICYMI: Japan was removed from the US Treasury semi-annual currency manipulation list

<p>Posting this as a reminder from back in the middle of last month:</p><p><a href="https://www.forexlive.com/news/treasury-semi-annual-currency-report-says-no-major-us-trading-partners-manipulated-fx-20230616/" target="_blank" rel="follow">Treasury semi-annual currency report says no major US trading partners manipulated FX</a></p><ul><li><a href="https://www.forexlive.com/news/treasury-semi-annual-currency-report-says-no-major-us-trading-partners-manipulated-fx-20230616/" target="_blank" rel="follow">Japan was removed from the list </a></li></ul><p>While being on the list would not, and indeed did not, stop the Bank of Japan from intervening in the yen, not being on the monitoring list is a comfort to Japanese authorities. The BoJ buying yen is not going to fuss the US Treasury either. </p><p>Earlier:</p><ul><li><a href="https://www.forexlive.com/news/usdjpy-is-finally-on-the-move-lower-after-kandas-yen-intervention-threat-not-by-much-20230704/" target="_blank" rel="follow" data-article-link="true">USD/JPY is finally on the move lower after Kanda's yen intervention threat. Not by much.</a></li></ul><p>-</p><p>Background on the list:</p><p>The U.S. Treasury Department’s semi-annual currency report is an important document that assesses the economic and foreign exchange policies of the United States' major trading partners.
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In this report, the Treasury examines and evaluates whether any foreign economies are manipulating their currency to gain unfair competitive advantage in international trade.</p><p> If a country is found to be a currency manipulator, the U.S. can take retaliatory action, including negotiations and trade sanctions.
</p><p>The criteria for labelling a country as a currency manipulator include: </p><ul><li>a significant bilateral trade surplus with the United States, </li><li>a material current account surplus, </li><li>and engagement in persistent one-sided intervention in the foreign exchange market.</li></ul><p>–</p><p>Meanwhile, USD/JPY is barely moving:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.