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“We are watching moves in the exchange rate with a sense of urgency,”  the Japanese Ministry of Finance Forex head Yoshiki Takeuchi said on Monday, according to Reuters.  

Takeuchi added that exchange rate stability is important.  

USD/JPY pair fell to a seven-month low of 105.80 earlier today, as the Yuan slide put a bid under the anti-risk Japanese Yen. The currency pair is currently trading at 106.08, down more than 300 pips from Thursday’s high of 109.32.