Yellen, Asked on Yen, Says Currency Interventions Should Be Rare

US Treasury Secretary Janet Yellen said intervention in foreign-exchange markets should be rare, when asked for her reaction to any potential move by Japan to address the slide in the yen against the dollar.

“Adjustments of exchange rates in markets is part of what enables countries to have different policies,” as reflected in the thinking of Group of Seven nations, Yellen said Thursday in a livestreamed interview with Reuters. For “large countries with market-determined exchange rates,” intervention should occur only in rare circumstances, she said.

“We would hope that would be rare, and expect that such intervention would occur only ...