I do not believe that the reemergence from retirement of Sakakibara-san, the eponymous 'Mr Yen' was anything other than planned. A dedicated civil servant, he would not make a declaration to the press without the permission of his bosses in Kasumigaseki.
So when he declared that the Yen will probably trade between 70-100 against the dollar, it was significant. It also appears that the Yen is weakening without additional selling from the government.
The Japanese are aware that whilst a weak Yen is generally good for exports, that the collapse in global consumption makes it moot. Therefore it is in their interest that the US and Europe reflate their economies as quickly as possible. A weakened dollar will make America more competitive and lift the global economy out of its torpor. It is in Japans interest to assist in that effort.
Thus Sakakibara-san was pulled off the golf course to rescue his beloved Yen once more.
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