H.R. 2886 would address the exchange-rate misalignment of the Japanese yen with respect to the United States dollar.

== Detailed Summary ==

<summary>
(Log inJapan Currency Manipulation Act - Directs the Secretary of the Treasury to report to Congress on: (1) currency intervention by Japan with respect to edit the wikirate of exchange of the Japanese yen and be the firstU.S. dollar and other currencies since 2000; and (2) any effort by Japan to providecreate an exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies since March 2004.

Requires the Secretary to submit to Congress a detailed summaryproposal for a comprehensive joint U.S.-European Union plan to address the exchange-rate misalignment of the bill!)Japanese yen with respect to the U.S. dollar and other currencies.

Directs the Secretary to: (1) initiate consultations with Japan to decrease Japan's foreign currency reserve holdings to permit effective balance of payments adjustments and to eliminate its unfair competitive advantage in international trade; and (2) take appropriate action to dissuade, prevent, or object to currency intervention by Japan.

Directs the United States to call for the convening of a special meeting of the International Monetary Fund (IMF) to reach a multilateral agreement regarding: (1) the exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies; (2) the destabilizing effects of the exchange-rate misalignment of the Japanese yen; and (3) Japan's excessive foreign currency reserve holdings.

Directs the Secretary to report to Congress on: (1) progress made toward decreasing Japan's foreign currency reserve holdings; and (2) actions taken at meetings of the G-7 Leaders, G-7 Finance Ministers, and the IMF regarding the exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies, including any progress toward eliminating such misalignment.
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 6/27/2007: Referred to House committee. Status: Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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== Points in Favor ==

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== Points Against ==

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