- Excess FX volatility is undesirable
- Will take appropriate action if needed
- Communicating closely with BOJ, currency authorities of other countries
Again, these are nothing more than verbal interventions but it comes at a sensitive time as USD/JPY is chasing a firm break above the 130.00 handle. The fact that the official is throwing in the threat of intervention is enough to see the yen pare back a sliver of its losses today, though USD/JPY is still up 1.5% even at around 130.35.
