Japan's Deputy Finance Minister Akazawa promises JPY intervention if excess volatility

Japan's Deputy Finance Minister Akazawa:

• Don't have specific FX level in mind in deciding when to intervene
• Any FX intervention will be aimed at arresting excess volatility

• We won't intervene just because yen is weakening

And Bank of Japan Governor Ueda weighs in further:

• Desirable for currencies to move stably reflecting fundamentals

Earlier this week we had an ex-Ministry of Finance guy saying the yen is trading in line with fundamentals:

• Japan - Former JPY intervention official says it would be ineffective to prop up yen

We've been saying the same thing over and over again at ForexLive for months. Sheesh.

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And, back to Ueda, more again:

• It's true consumption in latest gdp data somewhat weak
• Want to gauge whether consumption continues to recover moderately by looking at various data
• Service consumption is rising, but consumption of goods that saw sharp price rises such as food, daily necessities is somewhat weak
• Key to consumption outlook is whether wages will continue to rise

There has been plenty from Ueda today:

• Bank of Japan Governor Ueda says Japan's economy is recovering moderately
• More from BOJ's Ueda on conditions for ending YCC and negative rates

• More from BOJ's Ueda: BOJ does not have specific plan yet on how it will sell ETFs

• BOJ's Ueda says the weak yen has positives and negatives