Japan finance minister Kato

  • Rapid moves seen in recent FX market
  • No comment on FX levels intervention
  • Desirable for currencies to move stably reflecting economic fundamentals
  • Closely watching FX moves with a sense of urgency
  • there was no discussion on FX at today's G20 meeting and I don't expect any tomorrow

The reference to 'rapid moves' is a sign of escalating the rhetoric

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