Toru Hanai | Bloomberg | Getty ImagesThe Japanese currency could weaken even further to 170 levels against the U.S. dollar next year, according to Japan's former vice minister of finance for international affairs, Eisuke Sakakibara. Commenting on reports of yet another intervention being conducted by officials late last week, Sakakibara said, "Most of the business people are now expecting further depreciation of the yen. Sakakibara's forecast for the yen comes as Japanese officials remain tight-lipped on publicly confirming a second intervention taking place to defend the currency. watch nowA majority of economists polled by Reuters expected no change to the nation's dovish monetary policy in its next meeting slated for Thursday. 'A history of failed interventions'Even if authorities continue to intervene to defend its currency, it won't have much of an effect, Sakakibara said.

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