Japan LDP secretary-general Sadakazu Tanigaki:

  • Not desirable for FX to move rapidly

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I, of course, beg to differ, sir.

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He’s still going:

  • Whole world is nervous about Fed tapering
  • Watching forex moves carefully
  • Negative impact of weak yen due to higher import costs

Headlines on Bloomberg

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Sounds like the Japanese administration may well try to jawbone the yen either higher or stable.Election-related, no doubt.

They tried that around 105 (or was it 110? If I remember correctly. That didn’t quite work out as planned)