Tags: Nikkei Japan Readying Intervention to Halt Surging Yen

Nikkei: Japan Readying Intervention to Halt Surging Yen

Monday, 01 Aug 2011 01:43 PM

The Japanese government is preparing to intervene in currency markets to weaken the yen as it nears a record high against the dollar, Japan's Nikkei newspaper said Monday.

The report also said the Bank of Japan has begun discussing additional monetary easing.

The dollar earlier Monday fell to a four-and-a-half month low against the yen, but backed off from that level later in the session in a surge traders said was not the result of intervention.

If Japan intervenes, the BOJ's policy board will consider additional easing measures at a two-day meeting starting Thursday, Nikkei said. It added that a five to 10 trillion yen expansion of the central bank's 40 trillion yen asset-buying fund was a likely step.

The report also said the board will likely consider increasing purchases of government bonds and short-term securities, as well as buying corporate bonds and other riskier assets to help companies raise needed funds.

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The Japanese government is preparing to intervene in currency markets to weaken the yen as it nears a record high against the dollar, Japan's Nikkei newspaper said Monday. The report also said the Bank of Japan has begun discussing additional monetary easing.The dollar...
Nikkei Japan Readying Intervention to Halt Surging Yen
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