Japan’s Finance Minister Kato
- will communicate closely with US counterparts on FX
- have agreed with US that excessive moves on forex are undesirable
The rapid drop in USD/JPY is a strong candidate for ‘excessive’, but you won’t see any actual intervention from Japan to stem the yen’s rise from such weak levels. These fairly gentle comments from Kato are about we’ll get.
This article was written by Eamonn Sheridan at www.forexlive.com.
