Yesterday, Merkel’s parliamentary finance spokesman Michael Meister caused a row (and a drop in EUR/JPY) after he warned about retaliation for the weakening yen.
Today, a German finance ministry spokesman says there is no evidence Japan is competitively devaluing the yen and that there is no reason for concern regarding yen-euro relations.
Policymakers are concerned about FX, no doubt, but it looks like they want to keep it off of the front pages.
