As U.S. recession fears mount, Japan widens forex watch to include risk of yen spike

Japanese policymakers worried about the yen sliding lower are increasingly also having to watch out for it rebounding, officials said, signalling that currency-market intervention is less likely than some investors expect.

Japan has stepped up its warnings about sharp yen falls including a rare joint statement last month from the government and the central bank making clear their readiness to intervene if a drop is too swift.