Japan’s Matsuno: Sudden FX fluctuations are not desirable

Japanese Chief Cabinet Secretary Hirokazu Matsuno joined the chorus to warn against the unexpected rapid moves in the exchange rate value.

Also read: Japan’s Finance Ministry Official: Sudden fx fluctuations not desirable

Key quotes

Sudden FX fluctuations are not desirable.

No comment on day-to-day FX moves.

But watching with a high sense of urgency.

It is desirable for currency to move stably reflecting economic fundamentals.

Market reaction

USD/JPY is keeping its corrective mode intact around 139.20, having hit the highest level in 24 years at 139.68 earlier in the Asian trades. The spot is up 0.16% on the day.