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USD/JPY Breaches 141.00, Japan Cabinet Secretary Warns On Excessive FX Moves

JPY

USD/JPY hit fresh YTD highs above 141.00 (141.04), but we now sit slightly lower, last in the 140.95/00 region. Comments have crossed from Chief Cabinet Secretary Matsuno, stating excessive FX movements are undesirable (USD/JPY pulled back towards 140.80 post the headlines). He added that the authorities will watch trends in forex markets closely, but there is no change to the view that they will 'respond appropriately as needed'.

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