Japan shouldn¡¯t step into the foreign exchange market to prop up the yen at this stage, according to the country¡¯s former chief currency official at the Finance Ministry.
¡°I don¡¯t think the government should intervene,¡± said former Vice Minister for International Affairs Mitsuhiro Furusawa. ¡°The current situation doesn¡¯t warrant it.¡±
The recent moves in the yen don¡¯t reach the level of excessive and disorderly moves that are warned against in existing Group of Seven currency agreements, Furusawa said.
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