“We reaffirm our shared interest in a strong and stable international financial system. Excess volatility and disorderly movements in exchange rates have adverse implications for economic and financial stability.
“We continue to monitor exchange rate markets closely and cooperate as appropriate.
“Given China’s important role in the global economy we encourage the authorities to allow accelerated appreciation of the RMB effective exchange rate as a means of further rebalancing of the domestic economy and promoting external stability”
The Japanese finance minister was quick to pounce on the disorderly and volatility part, suggesting they are in fact on guard over the recent surge in JPY strength.
