My screaming caps should have read:
THE US DID NOT WANT A CHEAPER YEN. IT WAS INTENTIONAL US POLICY TO CREATE A STRONGER YEN WHILE NOT BACKING THE DOLLAR.
I suppose if I'm going to emphasize with all caps I should get the content correct. The yen-dollar relationship is hard to keep straight in the mind because the yen is three digits and the dollar is always just 1.
Charles Jannuzi