Japan’s Murai: important for currencies to move stably reflecting fundamentals
Japan’s Deputy Chief Cabinet Secretary Murai Hideki is on the wires now, via Reuters, with some verbal intervention, as the USD/JPY pair extends higher above the 150.00 level.
Key quotes
Important for currencies to move stably reflecting fundamentals.
Excessive FX volatility undesirable.
Won't comment on forex levels.
No comment on currency intervention.
Will continue to take fully appropriate steps on FX.
Market reaction
Despite the jawboning, USD/JPY is trading firmer at yearly highs of 150.44, up 0.11% on the day.
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