Japanese Official: Dramatic forex moves are not ideal

The jawboning from the Japanese authorities continues, with an unnamed official noting on Wednesday that dramatic FX moves are not ideal.

Further comments

No comment on FX levels.

The government will make the utmost efforts to implement planned inflation policies, step by step.

Market reaction

USD/JPY is extending its retreat from 24-year highs of 136.71 reached in the US last session. The pair is now trading at 136.17, down 0.33% so far.