G7 division on weak yen a focus of talks in Germany

FINANCE ministers from the Group of Seven rich nations meet in Germany today and tomorrow, and are divided over whether or not the club should send markets a message on the weak yen.

Eurozone countries have complained loudly about the Japanese currency, fearing its descent to record lows against the euro is damaging their economies by making European goods and services too expensive, compared with those from Japan.

But they have won no support from the United States, which says the yen’s value is set fairly — a position echoed by Canada.