Japanese Government Official: Forex stability is important

A Japanese government official said on Monday, “forex stability is important.”

He added that the government is “closely watching its impact on Japan's economy.”

His comments come in the face of the recent depreciative move in the yen, as USD/JPY moves closer to 118.00.

The relentless rise in the US Treasury yields and an improved market mood is boding well for the currency pair ahead of the critical Fed decision.

At the time of writing, USD/JPY is adding 0.44% on the day, trading at 117.77.