The possibility of Japan intervening directly in currency markets to stem the yen¡¯s slide can¡¯t be ruled out, according to Takehiko Nakao, former head of foreign exchange policy at the Finance Ministry, in remarks that appeared to spark a move in the currency.
¡°Unilateral intervention shouldn¡¯t be eliminated as a possibility,¡± said Nakao, in an interview on Bloomberg TV, while flagging that the hurdle for gaining support from abroad was high.
¡°Coordinated intervention is generally very difficult unless there¡¯s a very excessive movement in the market, or a kind of crisis mode,¡± he said.
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