Japanese policymakers worried about the yen sliding lower are increasingly also having to watch out for it rebounding, officials said, signalling that currency-market intervention is less likely than some investors expect.
Japan has stepped up its warnings about sharp yen falls including a rare joint statement last month from the government and the central bank making clear their readiness to intervene if a drop is too swift.
While there is no change to that position of guarding against excessive yen declines, authorities are also turning their attention to the risk of a sharp rise in the currency, said three policymakers with knowledge of the matter.
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