Japan likely won't seek to reverse the yen's downtrend with exchange-rate intervention as recent falls reflect economic fundamentals, former top currency diplomat Naoyuki Shinohara told Reuters. There is no set rule or shared agreement among G7 advanced nations on what kind of currency moves are defined as "excess volatility" that justify intervention, Shinohara said. "But usually, when you talk about excess volatility you have in mind a timeframe of several days or weeks," rather than several months, he said in an interview on Friday. The remarks contrast with those of incumbent top currency diplomat Masato ... (full story)