Japan’s Finance Ministry Official: Will keep watching forex with a sense of urgency

Dhwani Mehta FXStreet

An official from the Japanese Finance Ministry said on Monday, they will keep monitoring the forex developments with a sense of urgency.

The official, however, said that he cannot comment on the reasons behind FX moves, on the US election impact as well as on the level of FX itself.

These comments from the Japanese policymakers keep flowing in, as they turn cautious about the recent appreciation of the yen.

USD/JPY downed to eight-month lows

USD/JPY reached fresh eight-month lows of 103.18 earlier in the Asian session, mainly driven by broad-based US dollar weakness, as markets price in a Biden win in the presidential election.

This has resulted in the yen reaching eight-month tops vs. the greenback, as the Japanese authorities turn on guard.

The spot was last seen trading at 103.36, modestly flat on the day.

USD/JPY on its knees at key support, Japan officials on guard

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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