Japan’s Matsuno says rapid FX moves are undesirable

Japan chief cabinet secretary Matsuno with some verbal intervention to proper up the yen:

• Important for currencies to move in stable manner reflecting
  fundamentals
• Rapid fx moves
  undesirable
• Won’t comment on
  forex levels
• Won’t rule out any
  steps to respond to disorderly fx moves

Of course the huge monetary policy divergence between the Federal Reserve and the Bank of Japan is a powerful fundamental.

Matsuno

—

Earlier from Finance Minister Suzuki

• Japan finance minister Suzuki has no comment on the weak yen

And also from ‘Mr. Yen’ Kanda:

• Japan’s Mr Yen Kanda says concerned about one-sided sharp FX moves
• and more: standing by but no comment on when and what when asked about possible steps to be taken including intervention

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