FOCUS: As yen looks set to weaken, intervention seen a drop in bucket

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Kyodo News

Despite stepped-up warnings by Japanese authorities, the yen looks on course to lose more of its value to the U.S. dollar, as market players are unfazed by the dangled threat of intervention in foreign exchange markets. Even if such an intervention becomes a reality to arrest the yen’s decline, the chances are that it will be a drop in the ocean and do little to reverse the trend of a strong dollar, unless the Bank of Japan changes its dovish stance — an unlikely scenario, market analysts say. The yen has already broken past barriers seen as psychologically important for market participants a…

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