USD/JPY trading marginally firmer this morning, presently up at 91.35 from early 91.20.
Latest comments from Japanese Finance Minister Fujii
- Don’t want to be labelled as backing a strong yen (easy answer to that, but i’m too polite to spell it out)
- Competing to drive currencies low no good for world economy
- Shouldn’t comment on yen rates (bingo)
- Natural for yen rates to be set on economic conditions