Ex-FX Chief: Japan Can Intervene Any Time After Rate Check

The transcript discusses the yen's decline and the potential for market intervention. It covers the impact of upcoming Fed and BOJ meetings on the yen, the significance of yen levels and volatility, and the possibility of intervention. The discussion also touches on the US reaction to such interventions and the potential for coordination with the US, referencing past events and current market conditions.

What was the main reason for considering market intervention in the yen's decline?

• The yen was gaining too much value.

• The yen's exchange rate was fixed.

• There was excessive volatility in the exchange rate.

• The yen's exchange rate was stable.

What factor increases the likelihood of intervention following a Federal Reserve move?

• Low interest rates

• Stable exchange rates

• High daily movements in the yen

• Decreasing inflation

What is more important than the level of the yen when considering intervention?

• The inflation rate

• The interest rate

• The movement of volatility

• The level of the yen

What is the potential US reaction to a yen intervention?

• Indifference

• Complete opposition

• Uncertain, but based on past commitments

• Full support

What preparatory step has already been taken for a potential intervention?

• A public announcement

• A meeting with the US

• A rate check

• A change in interest rates