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USD/JPY Hits Day's Lows as Japanese Authorities Issue Warning

JPY
  • USD/JPY slips to session lows of 133.61 as wires quote a joint statement made by Japan's Ministry of Finance, FSA and the Bank of Japan.
  • The statement writes that the authorities had a meeting after the sudden move in the JPY, adding that rapid JPY weakening is a concern, and that the authorities will watch the FX moves, the impact on the economy and prices even more carefully, and with a sense of urgency.
  • The statement concludes that they will take appropriate action if necessary, while keeping close communication with the currency authorities in other countries.

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