Japan May Consider Unilateral Yen-Selling: Report

NEW YORK (Reuters) - The Japanese Ministry of Finance may unilaterally yen-selling intervention and market speculators driving the currency of view, Nikkei Business Daily reported Tuesday.

The yen rose to a 15-year high against the dollar and a peak of nine years against the euro on Tuesday for fear of the global economy has slowed, testing the Japanese authorities to solve the currency to climb stalk.

Nikkei also said in its morning edition that 08.25 the Bank of Japan's monetary policy further measures to be considered separately. Depending on market conditions the board may decide the policy to take action earlier to convene an extraordinary meeting, according to the report.

Actions could include promoting the facility, which provides financing three months at a low 0.1 percent to 30 trillion yen from the current 20 trillion yen. Extending the funding period to six months would be another option, says Nikkei.

The dollar briefly compared losses against the yen after the Nikkei report. It was last down 1.1 percent at 84.14 yen, not far from a session low of 83.61 yen according to Reuters data.

"Going the quantitative easing route seems to be the desired policy to move the Japanese authorities should they decide to act," said Brian Dolan, chief strategist at Forex.com in Bedminster, New Jersey.

"The U.S. returns were they all simple intervention will do is give better levels of speculators buying the yen."

The Nikkei report warned that the consequences of unilateral intervention may be muted given that other major economies are not expected to join the move.

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