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Japan’s Matsuno: Closely watching FX moves and potential impact on economy
Amid the relentless drop in the Japanese yen, the country’s Chief Cabinet secretary, Hirokazu Matsuno said that they are closely watching FX moves and their potential impact on the economy.
Additional quotes
FX stability is important.
Does not want to comment on FX levels.
Will take appropriate steps on FX policy while communicating closely with other currency authorities.
Market reaction
Japanese officials continue with their verbal intervention but it has little to no impact on the USD/JPY pair, which seems out of control for now.
The spot is trading at the highest level in 20 years near 128.40, adding 1.12% on the day.
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