Japan’s chief cabinet secretary does not rule out any measures to respond to excessive currency movements.

Hayashi, Japanese Chief Cabinet Secretary:

• I will not comment on exchange rates and monetary interventions

• It is important that currencies move in a stable manner, reflecting fundamentals
• Excessive currency volatility is undesirable
• Closely monitor effects movements with a high sense of urgency
• Does not exclude any measures to respond to excessive exchange rate movements

Hayashi is the last of the three amigos to react to the sharp weakness of the yen today:

• More from Japanese Finance Minister Suzuki: Forex levels are essentially determined by markets
• Japanese Finance Minister Suzuki is trying to push the yen up now – verbal intervention
• Japan’s Kanda says he is ready to take necessary measures in the face of the rapid fall of the yen

USD/JPY is down from late highs in New York trading:

This article was written by Eamonn Sheridan at www.forexlive.com.

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