Japan Can Intervene Any Time After Rate Check, Says Ex-FX Chief
- Yamasaki says intervention last week wouldn’t have shocked him
- History shows that Japan can intervene without US support
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Japan is now ready to intervene in currency markets at any moment, if needed, and doesn’t need to wait for a green light from the US to support the yen, according to a former head of the country’s currency policy.
“Last week’s rate check means the authorities can now take action at any time,” said former Ministry of Finance currency chief Tatsuo Yamasaki in an interview with Bloomberg on Tuesday. “For me, it wouldn’t have been a surprise if they’d intervened then.”