Japan top currency diplomat: Excess volatility, disorderly FX moves are undesirable

• Discussed financial market developments, including USD/JPY moves, in meeting with US Treasury's acting undersecretary
• Reaffirmed to have close communications on currency issues
• FX stability is important
• Excess volatility, disorderly FX moves could hurt economic, financial stability

Some light jawboning there by Kanda but overall, I still don't see this kind of verbal intervention as being too big a deal. The frequency of which is increasing so that might keep yen pairs at bay, alongside some other factors i.e. technical (USD/JPY hitting 125.00) and flows (Japan fiscal year-end repatriation) for the time being.

But in the context of the bigger picture, words may not mean much especially if bond yields continue to surge and the fact that the BOJ continues to be rather desperate in trying to maintain yield curve Yield Curve A yield curve is a line used to help determine interest rates of interest rates for a specific bond, differentiated by contract lengths. This is useful for contrasting maturity dates, for example 1 month, 1 year, etc.In particular, yield curves help underscore the relationship between interest rates or borrowing costs and the time to maturity.Some of the best examples of this include US Treasury Securities, which are among some of the most observed worldwide by traders. By determining the slope A yield curve is a line used to help determine interest rates of interest rates for a specific bond, differentiated by contract lengths. This is useful for contrasting maturity dates, for example 1 month, 1 year, etc.In particular, yield curves help underscore the relationship between interest rates or borrowing costs and the time to maturity.Some of the best examples of this include US Treasury Securities, which are among some of the most observed worldwide by traders. By determining the slope Read this Term control.