Former Japanese Finance Minister Yoshihiko Noda has expressed skepticism about the effectiveness of government intervention in supporting the yen, which continues to weaken against the US dollar. In a recent statement, Noda, who served as finance minister from 2010 to 2012, emphasized that any intervention by the Japanese government is unlikely to provide a lasting solution to the currency's depreciation, according to a report by Reuters.

Noda's assessment comes as the yen continues to slide against the US dollar, prompting concerns about the Japanese government's ability to manage its currency's value. Intervention, which involves the government buying yen to boost its value, has become a recurring strategy in response to rapid declines. However, Noda believes that intervention can only temporarily stabilize the yen, and will not effectively reverse the underlying trends driving the currency's weakness. These trends are likely connected to factors such as the divergence in monetary policy between Japan and the United States, where the Federal Reserve has been aggressively raising interest rates, while the Bank of Japan maintains its ultra-loose policy.

Noda's comments add to the ongoing debate surrounding Japan's ability to manage its currency's value. Previous interventions have yielded mixed results, often providing only short-term relief before the yen resumes its downward trajectory. The effectiveness of intervention is heavily influenced by broader global economic conditions and market sentiment. The Japanese government and the Bank of Japan have been carefully monitoring the yen's movements, and officials have repeatedly warned against excessive volatility. However, Noda's perspective underscores the challenges involved in using intervention as a long-term solution to currency depreciation.