Comments from vice finance minister Manabu Sakai in parliament
- Will continue to carefully monitor currencies
Japan is digging itself into a deep hole, with concerns mounting the yen buying my accelerate into a self-feeding cycle
Official moves to weaken the yen are unlikely ahead of Friday's (and Saturday) G20 meeting, unless Japan can convince the other 19 intervention is needed to soothe excessive volatility. And it there was none when the yen soared from 121 odd to 111 then it ain't gonna come now (maybe more jawboning & rate checking will come).
