Bank of Japan Governor Ueda says important for FX to move stably reflecting fundamentals

More again from Bank of Japan Governor Ueda, trying his hand at some verbal intervention to support the yen.

Who wants to tell the Gov that a 500-odd bp yield differential between the US and Japan is a very strong fundamental that is moving the USD/JPY rate?

Ueda:

• important for FX to move stably reflecting fundamentals
• BOJ hopes to work closely with the government to scrutinise the impact of FX moves on the economy and prices

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USD/JPY not doing a lot: