suzuki 23 April 2024 2
  • If currency moves are excessive, we may need to smooth them
  • Desirable for FX to move stably, high FX volatility undesirable
  • Currency rate is stet by markets, reflect fundamentals

If you take this at face value, the implication is that Japan doesn't mind USD/JPY rising along with fundamentals, they just don't want it to happen too quickly.