An official from Japan's Ministry of finance
- Volatility remains high in the FX market
- FX stability is important
- rapid yen swings, up or down, are unacceptable
- US stock market seems to have reacted favourably to administration economic steps
As I have mentioned before, it is useful to pay heed to MofFin comments on currencies. In Japan its the ministry that will direct the BOJ to intervene (if needed), its not an independent judgement from the BOJ as it is for other DM central banks.
