Amidst the relentless rally in the USD/JPY pair, Japanese Chief Cabinet Secretary Matsuno is out with some verbal intervention to rescue the Yen.

Key quotes

Important for FX to move stably reflecting economic fundamentals.

No comment on every day-to-day FX moves.

Closely watching FX moves.

Desirable for forex to move in stable manner.

No change in stance that we will take appropriate action.

Volatile forex moves not desirable.