Currency traders betting on a rebound in the yen would be wise to look past the officials currently in charge and listen instead to policy veterans who know better. Over the last year as the yen was recording three-decade lows, officials such as Finance Minister Shunichi Suzuki, top currency diplomat Masato Kanda and Bank of Japan Governor Kazuo Ueda pinned the currency’s plunge on Federal Reserve decisions in Washington – the idea being that the yen is a victim of the Japan-US yield gap. This is bunk, as Hiroshi Watanabe, former vice minister of finance for international affairs, tells Nikkei Asia. Even if Tokyo ... (full story)