Japan Ramps Up Yen Intervention Warning After BOJ-Fueled Selloff
- Top currency official says authorities are on standby to act
- Yen bears testing a new ‘line in the sand’ for the currency
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Traders are piling into fresh bets against the yen, triggering pushback from Japanese authorities who are threatening once again to take action including the possibility of currency intervention.
The yen edged away from a year-to-date low Wednesday after Masato Kanda, Japan’s top currency official at the finance ministry, said authorities are ready to act if needed.