- Undesirable to target exchange rate when guiding monetary policy
- Sharp moves in the yen are undesirable, would make it hard for businesses to set plans
The typical remarks on the currency by Japanese officials. But they will be starting to get a bit nervous again as USD/JPY is back on the rise this week, following three weeks of declines in tandem with bond yields previously. The pair is up over 200 pips so far this week to above 129.00 today.
