Commerzbank: Japan and US May Jointly Intervene in Yen, Conditions Favorable for Dollar Strength

Odaily News According to Thu Lan Nguyen from Commerzbank in a report, following the recent decline of the Japanese yen, the possibility of Japan and the United States jointly intervening in the foreign exchange market to boost the yen and weaken the dollar should not be ruled out. She noted that US Treasury Secretary Janet Yellen had downplayed speculation about such intervention in January, but that was when the dollar was weakening. The current strength of the dollar makes the conditions for coordinated intervention appear more favorable. The G7 central bank governors and energy and finance ministers meeting held on Monday may provide a good opportunity for Japanese Finance Minister Shunichi Suzuki to seek Yellen's support. (Jin10)