Fin Min Noda: Decisive Steps Include Forex Intervention

Discussion in 'Wall St. News' started by ASusilovic, Sep 7, 2010.

  1. TOKYO (Dow Jones)--Japan's finance minister said Wednesday the government will take "decisive" steps against the rising yen if necessary and that those measures include foreign-exchange market intervention.

    It was the first time for Yoshihiko Noda to clarify that he sees currency-market intervention as a policy option. His comments reveal how serious Japan's currency authorities have become about the idea of intervening to sell the yen to curb its strength.

    "We will take decisive steps--which of course include intervention--when it becomes necessary," Noda said during a parliamentary committee session. "While keeping in mind how (to conduct intervention), we will take decisive measures."

    Until now, Noda had repeatedly threatened "decisive" steps but was vague on whether those steps would include intervention.

    It seems the Japanese government is one step further. Now it is THINKING about HOW to conduct intervention ( maybe through the use of uncle BEN´s helicopter armada, or what )... :confused:
  2. 恥ずかしさ
  3. I don't think Japan can effectively intervene without support from the USA. And the USA has no interest in weakening the Yen.
  4. LEAPup


    Shame is right.

    Another shame is the CFTC getting involved in Fx gearing. Gotta love big government trying to save us from ourselves. I guess 10:1 will be their next stop.
  5. Tsing Tao

    Tsing Tao

    boj just needs to call up the snd. worked well on eur/chf. no reason it wont work here.