Japan chief cabinet secretary Hayashi:
- Japan appoints former top fx diplomat Masato Kanda to special advisor to cabinet
- Kanda tasked to advise Japan PM Kishida on international financial trends
Hayashi adds:
- Won't comment on forex levels
- Important for currencies to move in stable manner reflecting fundamentals
- Closely watching fx moves thoroughly
Meanwhile USD/JPY is around 149.20, after having dipped to around 148.50.
The wild swings in USD/JPY would, in a rational world, prompt the Bank of Japan to step in and buy it. But, Japan's Ministry of Finance and BOJ want stable FX only when the yen is cratering;-)
