Japan's Finance Minister Kato:
- Don't comment on forex rates.
- Recently we have seen one-sided, rapid movements.
- Important for currencies to move in a stable way shows the basics.
- Fear of FX movements, including those led by speculators.
- It will take appropriate measures against excessive movements.
I have bolded some of these words, these are the signs used to express concern at a higher level than usual.
USD/JPY has not fallen too much:
We knew this kind of statement was coming. It was faster than I expected TBH:
This article was written by Eamonn Sheridan at www.forexlive.com.
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