Japan's yen-buying currency market intervention conducted for the first time in 24 years last month will be effective only for a "short period," International Monetary Fund official Ranil Salgado has said. Salgado, head of the IMF's mission to Japan, said that "intervention can slow the pace (of the yen's weakening), but it tends to be only for a short period." He told reporters Wednesday that the yen was previously bought as a safe haven currency when global recessions happened. But recently, yen selling is accelerating due to monetary policy differences between Japan and other countries, Salgado added. The Japanese ... (full story)