Key Points
(Bloomberg) -- Japan is ready to intervene in the currency market at any time should the yen weaken beyond its current range, given the extent of heightened warnings from key officials, according to the nations former currency chief..
The government can step in as soon as the yen falls beyond the current range," former vice finance minister for international affairs Tatsuo Yamasaki said in an interview Tuesday..
Officials wouldnt have issued such strong warnings unless they were prepared.".
Finance Minister Shunichi Suzuki issued his strongest verbal warning of possible bold action" last week when the yen slid to 151.97 per dollar, its lowest level in 34 years..
I dont mean theres a precise cap at 152, but were in a range where were right on the edge of having avoided intervention so far," said Yamasaki, who warned of the possibility of a looming move in an interview with Bloomberg two days before Japan entered markets in September 2022..
