Yen rises as Japan mulls joint intervention with USReuters, TOKYOThe yen yesterday rose against the US dollar after Japanese Minister of Finance Satsuki Katayama said Tokyo would not rule out any options to counter weakness in the local currency, including coordinated intervention with the US. The yen slid to a year-and-a-half low earlier in the week. A photograph taken on March 19 last year shows an illustration of yen and US dollar banknotes. Some Bank of Japan policymakers see scope to raise interest rates sooner than markets expect to contend with the weak yen, sources said. “Lower house dissolution reports are fuelling JPY [Japanese yen] depreciation pressure and we have further extended our long USD/JPY target, but potential intervention risk could cap the upside,” said Shinichiro Kadota, head of Japan forex and rates strategy at Barclays Tokyo.
