Japan’s Matsuno: Watching FX moves closely

Dhwani Mehta FXStreet

Amidst the relentless rally in the USD/JPY pair, Japanese Chief Cabinet Secretary Matsuno is out with some verbal intervention to rescue the Yen.

Key quotes

Important for FX to move stably reflecting economic fundamentals.

No comment on every day-to-day FX moves.

Closely watching FX moves.

Desirable for forex to move in stable manner.

No change in stance that we will take appropriate action.

Volatile forex moves not desirable.

Market reaction

At the time of writing, USD/JPY is flirting with 141.00, shrugging off the above comments. The pair is up 0.62% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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