Japan’s Top FX Diplomat Mimura: Recent Yen moves deviate from the fundamentals

Atsushi Mimura, Japan’s Vice Finance Minister for International Affairs and top foreign exchange official, said on Wednesday, “recent Yen moves deviate from the fundamentals.

Additional comments

• There is some speculation in the market about Japan's macroeconomic policies, especially fiscal policy.
• Yen long positions have been shrinking after the summer.
• We all agree that monetary policy itself is in the hands of the Bank of Japan (BoJ).