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Japanese Finance Minister Taro Asos said on Friday, they will continue to watch the FX market with a sense of urgency.

He said that FX stability is important, in an attempt at verbal intervention.

The yen has been rising rapidly, he added.

USD/JPY wallows at 4-month lows

USD/JPY extended its south-run and refreshed four-month lows at 104.20 in the last hour, tracking the persistent weakness in the US dollar amid fiscal stand-off and economic concerns.

Therefore, the resultant strength in the yen is drawing attention of the Japanese policymakers. Earlier today, Japan’s Senior Ministry of Finance official also noted about the importance of FX stability.