Yen Intervention Looms: Japan and US May Step In Again Amid Sliding Currency

A former Bank of Japan official has warned that if the yen continues to slide, both Japan and the US may intervene again to prop it up. Atsushi Takeuchi made this statement on August 4, following a recent coordinated intervention by Japanese authorities and the US Treasury. The intervention, which took place on July 30-31, saw the yen's value increase from near 164 per dollar to the 156-158 range.

The move was significant because it marked the first bilateral currency intervention between Japan and the US since 2011. Bitcoin's price also fell as a result of the intervention, dipping to around $63,000.

Takeuchi's comments suggest that this may not be a one-off event, but rather the beginning of a more sustained approach by both countries. The key level to monitor is the yen's trajectory against the dollar, with Takeuchi warning that if it drifts back toward 164, another coordinated response may follow.