Overview
- Atsushi Takeuchi, a former BOJ official involved in past interventions, said coordinated tactics with the United States have curbed a one‑sided yen decline.
- Suspected New York Fed rate checks on Friday signalled Washington’s willingness to cooperate with Tokyo’s efforts to stabilize the currency.
- The yen rallied more than 1% to a three‑month high near 152.10 per dollar on Tuesday on talk of U.S.–Japan rate checks seen as a warning to speculators.
- Japanese authorities are prioritizing the prevention of sharp, one‑directional moves rather than defending specific exchange‑rate levels, according to Takeuchi.
- Takeuchi warned that direct yen‑buying could trigger a rapid rebound and pressure stocks as Prime Minister Sanae Takaichi faces an election next month.