Japanese finance minister Katayama – one other try at verbal intervention yen help

Japanese finance minister Katayama:

• Closely watching FX moves with a high sense of urgency
• Won’t comment on forex levels
• Recent FX moves are sharp, one-sided
• Important for currencies to move in stable manner reflecting fundamentals
• Will take appropriate action based on U.S-Japan forex agreement
• At my meeting with BoJ Ueda and economy minister, Ueda explained that BOJ will gradually adjust degree of monetary support in accordance to economic, price improvements
• At meeting, three of us also reaffirmed we will coordinate closely on market developments
• Specific monetary policy means up to BOJ to decide

I spoke about the language choice implications here a few minutes ago:

• Japan fin min with some verbal intervention to try to support the yen

Same.

This article was written by Eamonn Sheridan at investinglive.com.