- Recently seeing one-sided, rapid moves in the currency
- No comment on specific forex levels
- But important for currency to move in stable manner reflecting fundamentals
- Closely watching FX moves with high sense of urgency
- Weak yen contributing to cost-driven inflation to some extent
- Won’t deny that disadvantages of weak yen outweighs the advantages
Some verbal intervention there in trying to jawbone the yen currency. USD/JPY is just off the highs to 154.58 currently from around 154.75 earlier but continuing to stay underpinned. As has been the case, such verbal intervention tends to act more as speedbumps rather than actual blockades.
This article was written by Justin Low at investinglive.com.