Japan’s Financial Minister Is Ready to Intervene
The Japanese yen retreated from its 15-year maximum level against the US dollar and from the
Yoshihiko Noda, the current Finance Minister of Japan, said today that the current levels of Japanese yen describe a
We have to take appropriate action when necessary, though I plan to continue to watch currency movements very closely with great interest.
Committed to look closer at the yen’s appreciation, Noda will probably have to use one of the few remaining tools — currency intervention — to push the yen down a bit. According to some sources, the Bank of Japan is currently planning a monetary easing that would increase the supply of yen and cool down its growth significantly.
USD/JPY rose from 84.13 to 84.72 as of 17:54 GMT today, setting its
If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.
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Bank of Japan, EUR/JPY, Intervention, Japan, USD/JPY, Yen, Yoshihiko Noda
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Earlier News About the Japanese Yen:
- Yen Reaches New Decade Highs on Forex Risk Aversion (2010-08-24)
- Can Yen Profit from Economic Uncertainty? (2010-08-23)
- Yen Rises with Increasing Demand for Safe Haven (2010-08-20)
- Japanese Yen Strengthens on Renewed Demand for Safety (2010-08-18)
- Yen Drops as Demand for Safety Wanes (2010-08-17)
6 Comments
How far do you think the price of the Yen will fall once government intervention takes place and how can one tell when the government has intervenened? When do you think the time-frame for this intervention will take place (if it does) and when do you think it will take place – earlier than the end of the year?
To about 90.00 at least. Yes, I think it will happen before the year’s end.
The yen is about 118.00 – do you mean down from this amount – or what is the equivalent?
118.00? I am talking about USD/JPY rate, which currently near 84.61.
At what time intervention is possible???
It’s not the actual intervention that matters, it’s the expectations of intervention.