Japan’s Hayashi: Ready to take all possible means on forex

Dhwani Mehta FXStreet

Japanese Chief Cabinet Secretary Yoshimasa Hayashi said on Friday that he is “ready to take all possible means on forex.”

Additional quotes

No comment on FX intervention.

Won't comment on forex levels.

Important for currencies to move in stable manner reflecting fundamentals.

Rapid FX moves undesirable.

Closely watching FX moves.

Up to the Bank of Japan (BoJ) to decide details of monetary policy.

Expect BoJ to take appropriate monetary policy to sustainably, stably achieve 2% price target.

Will work closely with the BoJ.

Market reaction

After the highly-anticipated Japan’s intervention in the forex market on Thursday, USD/JPY witnessed wild swings again in the early Asian session, suggesting another intervention attempt. At the time of writing, USD/JPY is adding 0.25% on the day to trade near 159.20.

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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