Japan's first intervention in the foreign exchange market in almost six years may undermine calls for China to let its currency appreciate.
The move to protect Japanese exporters by weakening the yen against the dollar was confirmed Wednesday by Finance Minister Yoshihiko Noda.
China, the world's largest exporter, is under pressure to let its currency rise more quickly, with U.S. lawmakers Wednesday beginning a two-day meeting to address the issue. Japan's example may give China extra ammunition to resist calls for immediate action at a meeting of Group of 20 finance ministers in Washington next month.