Japan top currency official: We reaffirmed necessity to act appropriately

Says cannot comment on whether they have intervened in the currency market

Japan
  • Overly volatile moves in financial markets are not good
  • We discussed the nervous moves in the market
  • Will announce more support details tomorrow
  • Measures include zero-interest loans to firms

A bit of a hint that they will be ready to step in when they see fit. USD/JPY is still sticking around 102.50-70 for now as these intervention talks could likely help to slow down the appreciation in the yen amid the current market mood.

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