By Leika Kihara TOKYO (Reuters) - Japan will forgo intervening in the market unless the yen plunges past 150 to the dollar and becomes a huge political ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSTOKYO - Japan will forgo intervening in the market unless the yen plunges past 150 to the dollar and becomes a huge political headache for premier Fumio Kishida, said a former central bank official who was involved in Tokyo's market foray a decade ago.
"Authorities usually don't have a specific line-in-the-sand in mind. But key thresholds like 150 are important for political reasons, as they are easy to understand," said Atsushi Takeuchi, who was head of the BOJ's foreign exchange division when Tokyo intervened back in 2010-2012. The benefits of a weak yen are also becoming clearer due to Japan's re-opening of borders, which is reviving inbound tourism and domestic service-sector firms, he added.
But authorities could intervene if the yen speeds up its pace of declines and breaches 150 to the dollar, he said.
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