Japan’s Matsuno: Ready to take appropriate actions on FX market movements if necessary

Japanese Chief Cabinet Secretary Matsuno came out with the much-needed verbal intervention to rescue the yen from the ongoing slump.

He said that they are “ready to take appropriate actions on FX market movements if necessary.”

Additional quotes

Desirable for currencies to move stably reflecting economic fundamentals.

Closely watching FX moves with a sense of urgency.

Excess FX volatility, disorderly FX movements could have adverse effect on economy, financial stability.

Japan’s govt will respond appropriately to exchange rate following G7 agreement on currencies while keeping close communication with us, other authorities.

No comment on FX market intervention.

Will work with BOJ to monitor market movements, impact on prices with heightened sense of urgency.

There is nothing new in view expressed in latest US forex report.