Watch the Yen, Signs of Japanese Intervention?

<p>&nbsp;Japanese authorities appeared unhappy to sit back and watch the yen fall to a new low since November at the start of the Asian session.</p><p><br /></p><p>Japan's top currency diplomat, Masato Kanda, said that speculative movements could be seen in the market and warned that Tokyo was ready to act if necessary.</p><p><br /></p><p>He said, if this move continues, the government will deal with it accordingly without rejecting any option.</p><p><br /></p><p>It was the strongest warning issued by Japanese authorities in weeks, raising the possibility of government intervention if the downturn continues.</p><p><br /></p><p><br /></p><p>Kanda, also Japan's vice finance minister for international affairs has played a key role in the country's efforts to stem the yen's sharp fall last year.</p><p><br /></p><p>Japan intervened in currency markets last year in September when the US dollar rose past 145 yen, prompting authorities to buy yen to save the currency.</p><p><br /></p><p>The yen is currently trading weak at around 147.45 against the greenback, having touched a new 10-month low of 147.81.</p>