Japanese Prime Minister Fumio Kishida had to make an appearance on Monday, as the USD/JPY rally appears unstoppable.
He said that they “will take steps against speculative FX moves as needed.”
“Rapid forex moves undesirable,” he added.
Market reaction
USD/JPY has stalled its renewed upside below 148.80 on the above comments, as investors turn cautious, expectant of the incoming FX intervention. The spot is trading modestly flat on the day.
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