Sakakibara is at it once more.
His remarks are reported in Japanese media.
- authorities don’t have to take motion but, because the yen’s present weak spot gained’t do an excessive amount of hurt to an economic system but to completely emerge from deflation
But when the greenback rises above ¥130, “that would trigger issues” … Japan has the choice of conducting dollar-selling, yen-buying intervention or mountaineering the Financial institution of Japan’s ultralow rates of interest, he stated.
“It’s troublesome to promote the greenback to arrest declines within the yen,” as there are limits to how lengthy Japan can accomplish that by tapping its international reserves, he stated.
Yesterday we had some delicate jaw-boning out of Japan which appears to have executed the trick, for now: