Japanese MOF official and top currency diplomat, Yoshiki Takeuchi, comments after the meeting between the BOJ, FSA and MOF earlier
- Meeting was to discuss markets
- Sense of concern in markets is increasing
- Volatility in markets is increasing
- Believes that coronavirus concern is behind the volatility increase
- Reaffirms that G20 confirmed importance of currency stability
- Notes that currency markets move on ‘various factors’
In short, a lot empty words being offered up as Japanese officials still appear to be comfortable with recent developments in the market. As mentioned earlier, I reckon they can take heart in the fact that the yen has actually weakened despite the coronavirus saga.