Japan’s Hayashi: Won't comment on forex levels or forex intervention
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Japan’s Chief Cabinet Secretary Yishimasa Hayashi said on Thursday that he “won't comment on forex levels or forex intervention” but he “will be ready to take full response.”
Additional comments
Important for currencies to move in stable manner reflecting fundamentals.
Rapid FX moves undesirable.
Closely watching FX moves.
Expect the Bank of Japan (BoJ) to work closely with govternment.
Expect BoJ to conduct appropriate monetary policy to sustainably, stably hit its price target, working closely with govt.
Market reaction
USD/JPY is testing multi-decade highs near 155.50 despite the Japanese verbal intervention, up 0.04% on the day.
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