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BUZZ-Japan FinMin Kato speaks out against weaker JPY today

ReutersJan 7, 2025 2:17 AM

  • Japan FinMin Kato seeing some one-sided, rapid FX moves, "alarmed"

  • Wants currencies to move in stable manner reflecting fundamentals

  • No comment on levels but ready to take appropriate action on excessive moves

  • Japanese verbal intervention will likely continue as USD/JPY pushes higher

  • FX market reacting accordingly, USD/JPY off some from 158.42 high earlier

  • USD/JPY likely to remain bid into Friday's US December NFP/jobs report

  • Expectations for unemployment unchanged at 4.2%, payrolls +154k vs Nov +227k

  • See nP8N3K10QU, for more click on FXBUZ

(Haruya Ida is a Reuters market analyst. The views expressed are his own)

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