IMF now comments on yen exchange rate – makes case for intervention

More again from Krishna Srinivasan, director of the IMF’s Asia and Pacific Department:

  • Had good discussions on exchange rates with Japanese authorities,
    who were committed to flexible exchange rates which act as a shock
  • Fx intervention
    could lower excess volatility and better align exchange rate moves
    with fundamentals

Earlier, wide-ranging, comments:

USD/JPY showing little response, its come back from its trip towards 147.20:

This article was written by Eamonn Sheridan at Source