Japan finance minister Kato:
- Won’t comment on forex levels.
- Recently seeing one-sided, rapid moves.
- Important for currencies to move in a stable manner reflecting fundamentals.
- Alarmed over FX moves, including those driven by speculators.
- Will take appropriate action against excessive moves.
I bolded some of those words, these are the signals used to convey concern is at a higher than usual level.
USD/JPY hasn’t dropped too much:
We knew this sort of commentary was coming. Was sooner than I expected TBH:
This article was written by Eamonn Sheridan at www.forexlive.com.
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