According to Japan’s top currency diplomat Takeuchi, the government will watch market moves with a greater sense of urgency.
Worry about the US economy over coronavirus impact a major factor behind nervous mkt moves.
Excess volatility in fx market is undesirable.
Will respond to excess volatility as appropriate in accordance with G7 statement.
No comment on fx levels.
Various factors move market.
No comment when asked if Japan intervened in currency market.
USD/JPY bears head back towards 102.00
The spot is seeing some fresh selling in the early European trades, as the bears are regaining control and look to test the flash crash low of 101.59 amid extension of the slide in the US Treasury yields across the curve.
At the press time, USD/JPY trades at 102.30, still down 2.80% on the day.