The Japanese Foreign Exchange Market (Routledge Studies in the Growth Economies of Asia, 12)

Japan's financial markets have seen dramatic changes recently. One of them is the explosive growth of currency trading and the increasing international role of the yen. Tokyo has become the third largest center of foreign exchange worldwide, behind London and New York. The Japanese Foreign Exchange Market gives a comprehensive overview of this activity. It provides a comparative economic analysis of practices and risks as well as related policy issues. After a short introduction to the history of money in Japan, the work focuses on three areas: general characteristics of the market, the nature of foreign exchange rates and policy issues. This is the first non-Japanese language title to examine the prolific rise of Japan's foreign currency market , its idiosyncracies, and its future role in the global economy.