KEY POINTS
  • "I think we're actually very, very close to them [Japanese authorities] jumping in ... they've already discussed the political consequences and nobody's sitting there asking for a weaker yen," Standard Chartered Bank's Steven Englander said.
  • Any intervention in the yen would be aimed at buying time for Japanese authorities until the U.S. Federal Reserve starts cutting interest rates or the Bank of Japan starts hiking its rates a little more, Englander added.    

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Japan is "very, very close" to intervening in the yen, Steven Englander, head of Global G10 FX research and North America macro strategy at Standard Chartered Bank, told CNBC as the currency languishes at multi-decade lows.

"I think we're actually very, very close to them [Japanese authorities] jumping in ... they've already discussed the political consequences and nobody's sitting there asking for a weaker yen," Englander told CNBC's "Squawk Box Asia" on Thursday.

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