Japan PM Abe: We Should Refrain from Arbitrary Intervention in Currency Markets
6 April 2016, 11:18
0
42
Japan PM Abe: We Should Refrain from Arbitrary Intervention in Currency Markets
In an interview with the Wall Street Journal on Wednesday, Japanese PM
Abe ruled out stepping into foreign exchange markets to reverse the yen's rise.
Responding to the questions about the yen's recent advance, Abe noted:
"Whatever
the circumstances, we must definitely avoid competitive devaluation,
and I think we should refrain from arbitrary intervention in currency
markets."
PM Abe’s comments come after the USD/JPY pair briefly
broke below 110 levels on Tuesday, hitting the lowest levels since Oct
2014 on Tuesday.
(Market News Provided by FXstreet)
