Japan’s intervention offers little defence for yen

Despite its direct intervention in currency markets and a ¥10 trillion extension of its monetary stimulus, Japan has little hope of reversing yen appreciation.

<div style="text-align: left;"> The yen came close to a record high on Monday, prompting Japan to intervene </div>

Nick Ferguson

August 05, 2011

Japan intervened in currency markets yesterday and loosened monetary policy as it made a show of weakening the yen to protect exporters.

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