G7 fin mins meet in Sendai, Japan today and Saturday, ahead of the all-important Karaoke night on Saturday
Expect unenlightening comments that excessive volatility and disorderly movements in exchange rates can have adverse implications for economic and financial stability and that this a justification for intervention. We all know this already. And given the subduing of volatility in the yen in recent weeks Japan will be clutching at straws if they insist they currently have justification to intervene.