Japan FinMin mouthing on FX seen just lip-service
ReutersMar 7, 2025 1:17 AM
- Japan FinMin Kato vowed appropriate action excessive FX moves today
- Important for currencies to move in stable manner reflecting fundamentals
- Recent FX moves one-sided, rapid
- These comments somewhat of a surprise with govt seen happy with JPY gains
- Recent JPY gains also relatively "orderly", not so "rapid" for market
- Comment maybe at attempt to stave off any USD/JPY plunge
- Pressure from US TsySec Bessent? From Japan Inc? Unclear reasoning behind
- USD/JPY on stable side today, trading quiet, range so far 147.67-148.16 EBS
USD/JPY hourly:
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