As I pointed out earlier, comments from Japanese authorities on FX 'stability' mean that they want the yen to stop rising.
Japan senior official says no comment on forex then makes comments on forex
- Key takeaway is that these sorts of comments are made when Japanese authorities are getting concerned about a strengthening yen
And more here:
Aso now with an attempt at verbal intervention in the currency:
- stability is important
- will continue to watch FX market with sense of urgency
- yen has been rising rapidly
- yen strength does not correlate with trade balance shifts
