Former BOJ board member says Japan and U.S. could intervene again if yen weakens

Former Bank of Japan board member Atsushi Takeuchi said Japan and the United States would “definitely” carry out another joint market intervention if the yen shows signs of renewed weakness, according to Jin10. He said the latest coordinated action by Tokyo and Washington was highly effective, helping shape a market consensus that the yen is unlikely to keep weakening in a one-way move. Takeuchi also said the dollar-yen exchange rate could trade in a range of 155 to 162 in the near term. The remarks point to continued market attention on official policy signals and the response of Japanese authorities if the currency comes under pressure again.