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Yoshimasa Hayashi emphasizes the importance of stable currencies
Yoshimasa Hayashi, Japan's Chief Cabinet Secretary, comments on the stability of currencies and foreign exchange markets. Ready to take any action on Forex trading. Market reaction: USD/JPY hold above 154.00.
Yoshimasa Hayashi emphasizes the importance of stable currencies
Japan's Chief Cabinet Secretary Yoshimasa Hayashi commented on currency stability on Tuesday, stressing the importance of ensuring they adequately reflect fundamentals. He avoided specific statements on FX values and currency interventions, but stressed that excessive FX volatility was undesirable. Hayashi stated that the development of foreign exchange markets is being carefully monitored and that Japan is ready to take all necessary measures in the foreign exchange market.
The market reaction to Hayashi's comments was evident in the Japanese yen (JPY), which was consolidating against the US dollar after a recent plunge to a 34-year low. The USD/JPY currency pair managed to hold above the 154.00 level during Asian trading on Tuesday.
Yoshimasa Hayashi's statements signal Japan's determination to maintain the balance and stability of currency markets. The willingness to take all necessary measures in foreign exchange trading underlines the seriousness of the government in protecting the country's interests and responding appropriately to unexpected developments in the currency sector. This clear stance reflects a commitment to supporting financial stability and global trade.