Verbal intervention comments from Japan's Chief Cabinet Secretary Matsuno:
- Govt closely watching FX moves and their impact on Japan's economy, prices
- Working closely with BOJ
Also says:
- Hope the BOJ works closely with govt, guide policy appropriately to sustainably, stably hit 2% inflation target
- Govt is always closely communicating with the BOJ, won't comment on specifics
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Japanese officials are concerned when yen depreciation is rapid, as it has been since the Bank of Japan meeting last Fridasy. These sorts of remarks on the currency are intended to slow the fall.
The last time the yen weekend quickly I was posting on what to watch for actual intervention.
USD/JPY update:
