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BofA Says It’d Take Global Risks for US to Step In to Buoy Yen
It would take broad risks to the global financial system for the US to potentially coordinate efforts with Japan to shore up the beleaguered yen, according to Bank of America Corp. With likely interventions by Japan to support the yen yielding muted results — and markets on alert for further efforts — BofA strategist Alex Cohen sees steps that involve the US warranted only if there’s “excessive volatility or disorderly and illiquid conditions in markets.” A currency that doesn’t reflect fundamentals could also merit the US potentially selling dollars and adding to yen-denominated reserves or operate as an ... (full story)