Hayashi, Japanese Chief Cabinet Secretary:
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Will not comment on foreign exchange levels or foreign exchange market interventions
- It is important that currencies move in a stable manner, reflecting fundamentals
- Fast spin movements are undesirable
- Closely monitor effects movements
- Will be ready to respond fully
- BOJ should work closely with government
- Expect the BoJ to pursue appropriate monetary policy to achieve its price target in a sustainable and stable manner, working closely with the government.
USD/JPY is not far from today’s (and 34-year) highs around 155.40.
This article was written by Eamonn Sheridan at www.forexlive.com.
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