Published by Jamie JemmesonJapan must intervene directly to curtail the rise of the yen if it is to avoid decimating its industrial growth potential, according to Barclays Capital.Speaking at a forum in Tokyo attended by Bloomberg, Tetsufumi Yamakawa, co-head of Japan research at Barclays, said that Japan's export-led recovery was being severely jeopardised by the rise of the yen, which is once more trading close to 15-year highs."If the yen's strength lasts at current levels, factories, investment and jobs will all move overseas," he warned.Mr Yanakawa added that the country is likely to need to act independently to curb the rise of the yen, with coordinated support from the US and Europe said to be unlikely.However, Japan's finance minister has this morning (September 9th) confirmed that the country will hold talks with China to discuss bond sales between the two countries.Yoshihiko Noda expressed his aim to negotiate terms on which Japan will be able to buy bonds from China.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.