Japan’s top currency diplomat issues final warning before action in FX market
- No comment on FX level
- In close contact with our US counterpart
- Closely coordinating with US based on our FX agreement in September last year
- This is my final warning before action
The Japanese yen extended the gains following these comments from Mimura. Earlier we got a verbal intervention from Japanese Finance Minister Katayama. This is good news for JPY sellers as they get better levels where to enter from.
As mentioned previously and as seen countless times in the past, interventions are useless if the fundamentals don’t change.
This article was written by Giuseppe Dellamotta at investinglive.com.