• Will not comment on FX levels
  • Important for currencies to move in a stable manner, reflecting fundamentals
  • Weak yen has positive and negative aspects

The comments come as USD/JPY tips just above the 155.00 mark again in trading today. The pair is seeing a modest recovery this week, rebounding off the low of 152.00 from Friday. But it is reasonable for one to expect Japanese officials to still draw the line on any outsized moves at this stage. The hard line though remains at 160.00, at least for now.