The Japanese government's decision to intervene to lower the value of the yen was sharply criticized by Sen. Debbie Stabenow, D-Lansing, and a trade group representing Detroit's Big Three automakers. The comments come amid growing concern by U.S. automakers that Japan will seek entry into the Trans-Pacific Partnership free trade agreement, which could drop some auto tariffs.
The dollar jumped to its highest level since August against the yen on Monday to 79.53, up from 75.77 yen on Friday. On Tuesday, the dollar traded at 78.23 yen.
Read Article