Tensions between the US and Japan for possible intervention to weaken the yen

Japan could have a firm response from the United States if you try to artificially weaken the yen on Wednesday said an adviser to Prime Minister Shinzo Abe, referring to the objections of the US central bank and the White House to the possibility of a direct market intervention by Tokyo.

The comment of professor emeritus at Yale University Koichi Hamada occurs after clashes between the Japanese Ministry of Finance and the US Department of Treasury policies yen, which highlights the tension between the first and third world economies.

Tokyo repeated his threat in recent weeks to intervene in markets to curb the escalation of the yen, which weighs particularly in exports, but 

Washington has made clear it will not tolerate such action. In the current circumstances, if Japan intervened in the foreign exchange market to curb the rise of the yen could have "significant implications" in its relations with the United States, Hamada said in a recent interview with the Wall Street Journal .

"Intervening without due consideration of diplomatic relations would not be smart," Hamada said. In his view, the intervention would avoid a "safer bet" for Japan, especially if they can not reach an agreement for the United States to remain calm, he added.

Hamada is one of the architects of Abe strategies to promote growth launched in 2013 and has many contacts with US officials. Japan has not intervened in currency markets since the end of 2011, when the US Treasury has severely reprimanded the interventions by Tokyo this year and in 2010. The Japanese Ministry of Finance dictates policy on the yen.

Hamada perceives a change of attitude in Washington about the Abenomía. In the early efforts by Abe to boost growth in Japan, the US authorities looked elsewhere when the yen following the introduction of this policy depreciated, probably because "they wanted to provide assistance to Japan, I wanted to return to standing, "he said. "But they could stop having that attitude."

Behind the change in US position could be "a sense of uncertainty in both the US and Japan on the outlook for their economy," Hamada said. "I recently met with members of the Federal reserve and I had the impression that the Fed considers the weak yen (...) as a burden on the US economy. they oppose [yen selling intervention Japan] because they want to give up "its policy relaxed monetary.