Yen Intervention Is Inevitable to Save Industry, Barclays Says
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Japan has no choice but to intervene in currency markets to prevent the yen’s strength from decimating the nation’s industry, Barclays Capital said.
The yen reached 83.35 versus the dollar yesterday, the highest since May 1995, threatening Japan’s export-led recovery. Industry and jobs won’t likely return from abroad even if the currency weakens eventually, and that prospect may force policy makers to intervene “in the immediate future,” said Tetsufumi Yamakawa, co-head of Japan research at Barclays.