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Why Asia ought to shift gear and welcome rising currencies

The yen’s stunning rally is prompting the usual stirrings in Tokyo. Japanese Finance Minister Taro Aso warns, for example, about “one-sided” exchange-rate moves and that Tokyo is watching “with a sense of urgency.” In the currency world of winks, nods and secret handshakes, that’s code for “cool it, or we’ll pounce” with direct intervention that […]