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Japan’s Hayashi: Stable FX levels are desirable

2024-06-21FXStreetFXStreet
Japan Chief Cabinet Secretary Yoshimasa Hayashi said on Friday that stable foreign change (FX) levels are desirable.

Japan Chief Cabinet Secretary Yoshimasa Hayashi said on Friday that stable foreign change (FX) levels are desirable. Hayashi emphasized the importance of maintaining strong confidence in the Japanese Yen (JPY).

Key quotes

The addition of Japan to the US currency monitoring list does not mean that Japan's foreign exchange policy is a problem

Stable Forex levels are desirable

Important that forex rates reflect fundamentals

Will continue to closely monitor moves in the forex market

Emphasizes the importance of maintaining strong confidence in the yen.

Emphasizes the importance of stable forex movements

Market reaction

The Japanese Yen hits a seven-month low against the US Dollar. At the time of writing, USD/JPY is trading 0.07% higher on the day at 159.05. 

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