• Basically, we won't make any comments when intervening in FX market
  • If we don't act to excessive moves, that could hurt those who are vulnerable
  • Currencies must move stably, reflecting fundamentals
  • There is international agreement that we can act if there are excessive FX moves

His words don't match up with what he means really, because all I'm hearing is "how to say that we intervened by saying that we don't comment on intervening right after". In case you missed things at the start of October: USD/JPY smashed lower in sign of intervention