Japan currency chief Masatsugu Asakawa giving some comments in Tokyo
- Watching for nervousness or speculative moves in the market
- FX market volatility has heightened
- Will check what is behind recent FX market moves
- We reaffirmed G20 agreement on currencies in the meeting
- Digital currencies were not on the agenda at today's meeting
- Discussed the impact of comments by Japan and US officials
- Confirmed that will not target FX levels for competitiveness
- Confirmed excessive, disorderly moves have bad effects
- Expects digital currencies to be on G20 agenda
- BOJ explained would continue easing in order to achieve price target
Asakawa is part of the MOF, and they had a meeting with the BOJ and FSA officials just about half an hour ago. Seems like it was a short meeting - but somehow they discussed quite a number of issues.
They are clearly unsettled by the recent strength in the yen (particularly against the dollar), but it doesn't look like they are ready to actively or truly intervene in any form at the moment.
USD/JPY not really phased by his comments, trading at 108.90 now after touching a high of 109.06 earlier.
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