Washingtonpost: Dollar Yo-Yos After Koizumi's 'Diversity' Remark
Once again, an Asian country -- this time, Japan -- hinted that its appetite for U.S. dollars might be waning. And once again, that prospect roiled global currency markets, highlighting concerns that the United States has grown too dependent on foreign capital.
The turbulence erupted yesterday when Prime Minister Junichiro Koizumi asserted that Japan ought to consider diversifying the foreign currencies.
A tumble in the dollar against the euro ensued, prompting Japan's top economic policymakers to soothe markets with denials that any plan was afoot to unload greenbacks.
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