Atsushi Mimura takes over at the end of the month and the market is unsure of what changes are coming. His hints in today’s comments don’t suggest a big splash.
- Will act under internationally agreed commitments on foreign exchange
- It has been internationally agreed that measures including intervention are allowed when necessary
- A change in Vice Finance Minister for international affairs doesn’t mean a change in basic policy
- Only and natural solution to yen’s weakness is to improve economic competitiveness and boost growth potential
USD/JPY is trading up 46 pips to 154.48 but is bouncing around as we go through the month-end fix.
This article was written by Adam Button at www.forexlive.com.
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