Japan’s Ex-FX Tsar Shinohara: ‘Meaningless' for Tokyo to conduct yen-buying intervention

Japan's former top currency diplomat Naoyuki Shinohara said on Wednesday, “it is 'meaningless' for Tokyo to conduct the yen-buying intervention.”

Additional quotes

“Yen-buying intervention, BOJ rate hike will not have a lasting effect in reversing the trend of weak yen.”

“Yen falls reflect economic fundamentals to some extent, moves not very fast.”