Japan’s Matsuno: Won’t rule out any options for response to FX moves

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Japan’s Chief Cabinet Secretary Hirokazu Matsuno told a news conference on Thursday, he “won’t rule out any options for response to FX moves.”

Additional comments

Important for FX to move stably reflecting fundamentals.

Will respond appropriately to FX moves if necessary.

Expect BoJ to closely communicate with govt, continue to take appropriate monetary policy.

Share mutual understanding with international authorities that excessive FX move undesirable.

Market reaction

USD/JPY is trading on the back foot near 148.25 following the Japanese verbal intervention, down 0.05% on the day.