Yen Intervention May Come Before 160, Government Panelist Says

Japan may be closer to intervening in the currency market than many investors assume, a government panel member suggested, as the yen continues to drift toward 160 per dollar.

“Japan has such an enormous amount of foreign reserves,” Takuji Aida, chief economist at Credit Agricole, said in an interview with Bloomberg on Thursday, referring to funds that would likely be used if the government stepped into the currency market. “Under Prime Minister Sanae Takaichi’s government, it becomes easier to take the view that we should actually use them.”