Policymakers are in frequent contact with their European counterparts on how to soothe markets if Britain votes to leave the European Union, with the first line of defense aimed at preventing a shortage of dollar liquidity.
The Bank of Japan is ready to offer dollar funds to domestic banks via auctions if a so-called Brexit scares investors into hoarding the U.S. currency, said officials with direct knowledge of preparations.
But Tokyo does not have as clear a plan on how to address an unwelcome yen rise that may be triggered by a Brexit, since the currency is also seen as a safe haven at times of heightened risk. Japan has not got any consent from its Group of Seven counterparts on a yen-selling currency intervention.