Japan Chief Cupboard Secretary Kihara:
- Watching market strikes, together with bond market, carefully
- Current FX strikes are sharp, one-sided
- FX market wants to maneuver stably reflecting fundamentals
- Involved about FX strikes
- Intently watching extreme, disorderly strikes in FX market together with speculative strikes
- Watching fx market transfer with excessive sense of urgency
That is all simply blah, blah, blah now.
USD/JPY is sitting mainly on the day’s excessive round 157.46.
Kihara’s remarks increase the verbal-intervention temperature, he has chosen excessive affect phrases. However … if this does gradual yen promoting it will be marginal. Markets will search for coordinated Ministry of Finance–BOJ indicators earlier than pricing the next threat of precise intervention.
