Japan deputy chief cabinet secretary
- no comment on FX levels
- FX stability is important
- closely watching FX moves with sense of urgency
- excess FX volatility, disorderly FX movements could have an adverse effect on the economy and financial stability
IF this is all new to you, these sorts of comments are aimed at slowing down the drop in the yen. It has slumped dramatically in past weeks and months. Japanese officials want to slow its fall. And there is some concern on the negative impacts of the weak yen now. The verbal interventions like this are the first step toward actual intervention. There has been no sign that this is imminent as yet.
JPY drop to a 20 year low against the dollar:
