Japan May Cooperate With U.S., Europe to Sell Yen, Mizuho Says
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Japan may cooperate with the U.S. and Europe to intervene in the currency markets after the yen rose to a record high against the dollar today, according to Mizuho Securities Co.
Should Group-of-Seven nations agree that the yen is showing excessive volatility and disorderly movements, “that may lead to joint intervention by Japan, the U.S. and Europe to sell yen for dollars and euros,” Yasunari Ueno, chief market economist at the unit of Japan’s second-largest bank, wrote in a report published today.