Japan former top currency diplomat warns of intervention if the yen falls further

• It is fully possible that Tokyo will conduct intervention in case the yen weakens further
• Amid a weakening yen, BOJ may have no choice but to normalise monetary policy
• That includes exiting negative rates and ending yield curve control

He also says that markets shouldn’t take things lightly and think that a threat of intervention is “not imminent”. As for his view on the BOJ stance, it is one that I am sympathetic towards as it is the only thing that can really turn things around for the Japanese yen.