![IMF: Yen’s recent declines are driven by fundamentals, criteria not met for intervention IMF: Yen’s recent declines are driven by fundamentals, criteria not met for intervention](https://shmi.ir/wp-content/uploads/2023/10/IMF-Yens-recent-declines-are-driven-by-fundamentals-criteria-not-150x203.jpg)
Alongside the surge in USD/JPY Japanese authorities have insisted, over and over again, that the rate should trade in a stable fashion ‘driven by fundamentals’. And over and over again the market has insisted that a 500+ or so bp differential between US and Japanese rates are a solid fundamental. The IMF have weighed in,