Japan finance minister Kato
- Decline to comment on the possibility of meeting the government’s target of achieving a primary budget surplus by next fiscal year.
Recently seeing one-sided, sharp FX moves.
Important for currencies to move in a stable manner reflecting fundamentals.
Alarmed over FX moves, including those driven by speculators.
Will take appropriate action against excessive moves.
Those words in bold are an escalation of verbal intervention.
USD/JPY back to its session lows and thereabouts:
