Japanese Chief Cabinet Secretary Hirokazu Matsuno crossed wires, via Reuters, in the last hour, reiterating his take on the rapid yen decline.
Key comments
Closely watching FX moves with a high sense of ugency.
Will take appropriate steps on excess FX moves.
No comment on daily forex moves.
Market reaction
At the time of writing, USD/JPY is trading at 148.83, retreating slightly from 32-year highs of 149.05. The Japanese verbal intervemtion appears to have cautioned bulls above the 149.00 level. The pair down 0.14% on the day.
