Japan finance minister Kato – alarmed by FX moves, driven by speculators

Japan finance minister Kato

• Decline to comment on the possibility of meeting the government’s target of achieving a primary budget surplus by next fiscal year.Recently seeing one-sided, sharp FX moves.Important for currencies to move in a stable manner reflecting fundamentals.Alarmed over FX moves, including those driven by speculators.Will take appropriate action against excessive moves.

Those words in bold are an escalation of verbal intervention.

USD/JPY back to its session lows and thereabouts:

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