Former 'top FX diplomat' in Japan says intervention unlikely

Naoyuki Shinohara, an ex-IMF deputy chief and formerly Japan's top currency diplomat

• Tokyo unlikely to intervene in market to stem yen rises
• Conducting solo yen-selling intervention now would be ineffective, unlikely to gain G7 consent
• Hard to change with FX intervention current dollar/yen declining trend, which reflects fundamentals
• Hard to find any factors justifying yen-selling intervention
• It's clear yen isn't extremely strong on a real, effective basis

Via Reuters

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Also:

• BoA's Yamada sees yen to 100 - 105 against the USD
• Yen still looks cheap and USD expensive

Shusuke Yamada, Chief Japan FX strategist for BoA

via Bloomberg