- If currency moves are excessive, we may need to smooth them
- Desirable for FX to move stably, high FX volatility undesirable
- Currency rate is stet by markets, reflect fundamentals
If you take this at face value, the implication is that Japan doesn’t mind USD/JPY rising along with fundamentals, they just don’t want it to happen too quickly.
This article was written by Adam Button at www.forexlive.com.
