Japan's Finance minister Aso has announced 'chief currency diplomat' Masatsuga Asakawa is stepping down
- to be replaced by Yoshiki Takeuchi
The job title is officially Vice finance minister for international affairs. Part of the role is instructing the Bank of Japan on when to intervene in the currency, if needed.
The BOJ has not intervened in the currency market through buying and selling since 2011. Although there have been plenty of verbal interventions (jawboning).
There had been reports mid-June Takeuchi was to be the new guy. Confirmed now.
