Japan’s Matsuno: Closely watching FX moves with a high sense of ugency

Japanese Chief Cabinet Secretary Hirokazu Matsuno crossed wires, via Reuters, in the last hour, reiterating his take on the rapid yen decline.

Key comments

Closely watching FX moves with a high sense of ugency.

Will take appropriate steps on excess FX moves.

No comment on daily forex moves.

Market reaction

At the time of writing, USD/JPY is trading at 148.83, retreating slightly from 32-year highs of 149.05. The Japanese verbal intervemtion appears to have cautioned bulls above the 149.00 level. The pair down 0.14% on the day.