Japan's Hayashi Won't comment on forex levels or forex intervention.
Japan ’s Chief Cabinet Secretary Yishimasa Hayashisaid on Thursday that he “won't comment on forex levels or forex intervention” but he “will be ready to take full response.” Additional comments Important for currencies to move in stable manner reflecting fundamentals. Rapid FX moves undesirable. Closely watching FX moves. Expect the Bank of Japan to work closely with govternment.
The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers.
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