Stating the obvious there...
- Ready to take action if market moves have negative impact on the economy
- Declines to comment on possible FX intervention
- Says that Japan is always exchanging views on markets with overseas authorities
Further "verbal intervention" by Japanese authorities on the day as they're keen to send a message to markets that they will not let the yen strengthen sharply and potentially stir disinflationary pressures in the economy.
Reckon we'll see a lot more of this if USD/JPY hovers between 100.00 to 105.00 in the coming months with the BOJ potentially introducing additional stimulus - though it's likely to be limited and somewhat ineffective considering their position.
