Ex-MOF Watanabe: “If yen spikes by 3 yen or more, Japan should not hesitate to intervene"

In an interview with Reuters on Thursday, former deputy finance minister Hiroshi Watanabe said that Japan should be prepared to intervene in forex markets, should the yen appreciate sharply.

Key Quotes:

"If Japan hesitated to intervene out of deference (to Trump), it would not be able to act for the coming four years”

“If the yen spikes by 3 yen or more, Japan should not hesitate to intervene"

“Japan-U.S. economic ties won't change much under Trump”

“As long as the economy grows steadily sees no need for the central bank to ease already massive monetary stimulus further barring big shocks to financial markets”

“BOJ should not be fixated on hitting its elusive 2% inflation target”