Japan senior official says no comment on forex then makes comments on forex
Yes, really. Key takeaway is that these sorts of comments are made when Japanese authorities are getting concerned about a strengthening yen
Senior Ministry of Finance official
- no comment on forex levels
- forex stability is important
- continue to watch forex markets with a sense of urgency
That 'stability' word - what the official means is the ministry is concerned about a rising yen. One of the impacts is it weighs on the stock market, reduced the competitiveness of exporters and is a negative for the share prce.