Japan chief cabinet secretary Hayashi:
Japan appoints former top fx diplomat Masato Kanda to special advisor
to cabinetKanda tasked to
advise Japan PM Kishida on international financial trends
Hayashi adds:
Won’t comment on
forex levelsImportant for
currencies to move in stable manner reflecting fundamentals Closely watching fx
moves thoroughly
Meanwhile USD/JPY is around 149.20, after having dipped to around 148.50.
The wild swings in USD/JPY would, in a rational world, prompt the Bank of Japan to step in and buy it. But, Japan’s Ministry of Finance and BOJ want stable FX only when the yen is cratering;-)
This article was written by Eamonn Sheridan at www.forexlive.com.
