Japan’s Goto: Desirable for FX to move stably reflecting fundamentals

Japanese Economy Minister Shigeyuki Goto said on Wednesday, it is “desirable for FX to move stably reflecting fundamentals.”

He further said that there is “no plan to compile the third extra budget.”

His comments come after Japan’s Ministry of Finance (MOF) announced on Tuesday that the country’s cabinet approved a second supplementary budget for this fiscal year to fund an economic stimulus package, backed by extra new debt.

Market reaction

USDJPY is trading listlessly at around 145.65, at the time of writing.