The Group of Seven has signaled it wants Japan to build a consensus before intervening in the foreign-exchange market, according to the nation's former head of currency policy.
Members have indicated intervention "should be done in agreement with the G-7 as opposed to unilaterally," Rintaro Tamaki, who was a vice finance minister until July and directed two of Japan's three rounds of yen sales in the past year, said Thursday in an interview in Paris.
Tamaki was referring to language in an Aug. 8 statement by the G-7 that said officials will "closely consult" each other on currencies.