FOCUS: Yen, inflation at levels unseen in decades not likely to sway BOJ

Published by
Kyodo News

Japanese authorities’ latest currency intervention, its second in a month, provides a fresh reminder that the rapid depreciation of the yen beyond the psychologically key barrier of 150 to the dollar is a cause for alarm. The dollar lost more than 5 yen in just hours during New York trading Friday, capping days of persistent market caution about another yen-buying, dollar-selling intervention. The Finance Ministry declined to comment but monetary authorities stepped into the market, according to sources familiar with the matter. Japanese Finance Minister Shunichi Suzuki had said Japan was “str…

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