Japan Official Cites Intervention Rules With FX Traders on Alert

As currency traders continue to watch for potential Japanese moves to buy the yen, a Finance Ministry official from the nation on Monday cited a rule saying that three days of intervention count as a single operation.

The International Monetary Fund considers three consecutive business days of exchange-market intervention as a single episode, the official told reporters. The comments came after the yen rose for three straight days following a reported intervention on Thursday.