Japan Chief Cabinet Secretary Matsuno says watching FX moves closely

Verbal intervention comments from Japan’s Chief Cabinet Secretary Matsuno:

  • Govt closely
    watching FX moves and their impact on Japan’s economy, prices
  • Working
    closely with BOJ

Also says:

  • Hope the BOJ works closely with govt, guide policy appropriately to
    sustainably, stably hit 2% inflation target
  • Govt is always
    closely communicating with the BOJ, won’t comment on specifics

Japanese officials are concerned when yen depreciation is rapid, as it has been since the Bank of Japan meeting last Fridasy. These sorts of remarks on the currency are intended to slow the fall.

The last time the yen weekend quickly I was posting on what to watch for actual intervention.

USD/JPY update:

usdyen chart boj intervention 03 August 2023

This article was written by Eamonn Sheridan at www.forexlive.com. Source