Verbal JPY intervention from Japanese Prime Minister Kishida. Japanese authorities are concerned about an overly weak yen. While exporters are not unhappy its pushing up the price of imported energy and other imported materials.
Kishida:
- excessive FX moves are undesirable
- will continue to monitor FX moves closely with a high sense of ugency
USD/JPY is not paying him much attention:
This article was written by Eamonn Sheridan at www.forexlive.com. Source