Bloomberg News

Japan May Intervene on New Yen Record in Asia, Goldman Says

February 01, 2012

Feb. 1 (Bloomberg) -- Japan may intervene in currency markets if the yen approaches a new high in Asian trading, Goldman Sachs said.

The hurdles for intervention have become higher due to criticism from U.S. and European authorities, Naohiko Baba, the chief economist for Goldman Sachs in Tokyo, wrote in an e-mailed note. Japan may attempt large-scale intervention if the yen reaches a new record against the dollar in Asian trading hours and continue so-called “stealth” operations for several days, according to the note.

To contact the reporter on this story: Rocky Swift in Tokyo at rswift5@bloomberg.net

To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net


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