The Guardian view on Japan’s yen: Trump wants to keep the easy-money machine running | Editorial

A cheap currency helps finance the US tech boom. Washington is intervening because allies matter only when they are useful Japan’s yen has slid back towards 160 to the dollar, despite last month’s extraordinary US-Japanese intervention. Traders are betting that its role as a cheap funding pipeline for global finance will continue. Earlier this month the Trump administration stepped in to help Tokyo stabilise its currency. “Japan’s been very good to us, with the exception, of course, of Pearl…