Monex’a Simon Harvey discusses the yen’s drop and BOJ policy. The yen slid back past 145 per dollar, prompting renewed warnings from Japan’s finance minister and boosting speculation the government may intervene prop up the currency for a second time this year. The nation’s currency slipped as much as 0.4% to 145.30, extending this year’s decline to 21%. The yen had tumbled to a 24-year low of 145.90 on Sept. 22 before policymakers stepped in to contain losses. “If we see excessively one-sided moves or something similar, we will take bold action as needed,” Finance Minister Shunichi Suzuki said, speaking after the move beyond 145. “That thinking hasn’t changed.” Source: Bloomberg The yen has slumped this year due to a widening policy divergence between the dovish Bank of Japan and hawkish Federal Reserve. Japan’s finance ministry spent 2.84 trillion yen ($19.6 billion) in September to slow its […]