G7 avoids rift over Japanese monetary stimulus and weaker yen

Finance ministers from the world's richest industrialised countries have avoided a public rift with Japan, which has managed to convince its partners that it is not manipulating its currency as part of a bold attempt to lift its economy out of nearly two decades of stagnation.

The rapid slide in the yen has sparked fears of a currency war, with countries engaging in competitive devaluations to make their exports cheaper. Last week, the yen fell to more than 100 units against the US dollar for the first time in over four years.

via Business feed http://www.scmp.com/news/world/article/1236170/g7-avoids-rift-over-japanese-monetary-stimulus-and-weaker-yen