“The level is quite important, despite whatever other people might say,” said Sakakibara, who is known as ‘Mr Yen’ for his past influence on the currency. “So that if it goes beyond 150, that may result into some kind of intervention.”
Sakakibara’s main view is that Japan will try to ride out the yen weakness without intervening as it waits for a change in the policy direction of the Federal Reserve. Japan spent more than $60 billion last year on three interventions just before the 146 and 152 marks.
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