RSS Japan verbal intervention to support the yen - Fin Min Kato will take action

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 RSS Japan verbal intervention to support the yen - Fin Min Kato will take action

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Japan finance minister Kato:

  • Won't comment on forex levels.
  • Recently seeing one-sided, rapid moves.
  • Important for currencies to move in a stable manner reflecting fundamentals.
  • Alarmed over FX moves, including those driven by speculators.
  • Will take appropriate action against excessive moves.

I bolded some of those words, these are the signals used to convey concern is at a higher than usual level.

USD/JPY hasn't dropped too much:

We knew this sort of commentary was coming. Was sooner than I expected TBH:

This article was written by Eamonn Sheridan at www.forexlive.com.
 
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