Japan’s Asakawa: Will take appropriate steps on FX if needed

Japanese Ministry of Finance (MoF) official Asakawa is back on the wires now, via Reuters, noting that the Ministry will take appropriate steps on FX if needed.

Additional Comments:

FX moves are very volatile, I am worried.

G7 and G20 have confirmed cooperation on FX is possible if needed.

Excessive FX moves are undesirable for a stable economy.

Shrinking US-Japan spreads is one reason for yen strength.