‘Mr. Yen’ Says Japan Will Fret If Rate Hits 155, May Intervene
- Sakakibara says verbal warnings ineffective if no intervention
- Yen direction likely to change after Fed meeting in December
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Japan’s government may step into foreign exchange markets again if the yen goes beyond 150 against the dollar with officials likely to get concerned if it reaches 155, according to former top forex official Eisuke Sakakibara.
“The level is quite important, despite whatever other people might say,” said Sakakibara, who is known as ‘Mr Yen’ for his past influence on the currency. “So that if it goes beyond 150, that may result into some kind of intervention.”