Japanese fin min says he won’t comment on forex and details of policy. Watching closely

Earlier this week, an LDP official said they “weren’t currently contemplating intervention”. That was the green light for yen sellers to push USD/JPY through 155 and — sure enough — there hasn’t been much push back.

Officials have made some moves to walk that back as commenting was an obvious mistake.

Fin min Suzuki now says the weak yen has positive and negative elements but that they’re watching closely.