Is Japan about to intervene to support the fast-weakening Yen?

There are two factors to the trade, first the dollar at a near six-month high on higher US yields, the other side is the Yen. Why hold the Japanese currency unless you need it for funding? Yields here continue to scrape along the bottom, part of the policy of the Japanese government to avoid steering the economy back into its multi-decade policy of deflation and poor growth. Masato Kanda, Japan's vice-minister of finance for international affairs, AND central figure in the country's efforts to stem the sharp decline of the yen since last year, said overnight the Japanese Government "won't rule out any options if speculative moves persist." Japan last intervened in currency markets last year in September when the dollar rose past ¥145 yen, and again in October when USD/JPY hit ¥151.


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