--An appreciating yuan is welcome news for Japan's exporters
--Appreciating yuan should take the pressure off Japan's government to intervene against the dollar
--Japanese exporters habitually focus on the dollar
NEW YORK (Dow Jones)--Given the importance of Japan's trading relationship with China, the appreciating yuan is taking the heat off the prospects of another round of intervention to weaken the yen versus the dollar.
As the yen hit new highs against the U.S. dollar this month, Japanese exporters and other manufacturers complained about a loss of competitiveness, which put pressure on their government to intervene. But that view misses the ...