Japan is on the brink of currency intervention if the yen weakens any further, according to one of the country’s former top currency officials. “Amid no change in US and Japan interest rates, the yen has depreciated against the dollar quite rapidly,” said Mitsuhiro Furusawa, former vice minister of finance for international affairs, in an interview with Bloomberg on Tuesday. “Should this trend continue, intervention will come,” Furusawa said, adding that “we are very close.” He cited market reaction to US data as a factor that may nudge Japanese authorities to act and pointed to last week’s joint statement between ... (full story)