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Japan’s Aso: Closely watching market moves

Japanese Finance Minister Taro Aso is on the wires now, via Reuters, noting that they are closely watching market moves.

Added comments

Volatilty is high in markets.

Current situation is different from Lehman brothers’ crisis.

Won’t comment on fx, stocks markets.

Yen has been stable around 105, no need to fret over its moves.

Will take time for markets to calm down.

This comes as senior officials at the Bank of Japan (BOJ, the Financial Services Agency (FSA), and the Ministry of Finance (MOF) are meeting from 1140 JST (0240 GMT) to discuss the continued volatile financial markets, as cited by the BOJ.

USD/JPY flirts with 105.00

USD/JPY is wavering around 105.00 amid nearly 10% slump in the Japanese equities and falling S&P 500 futures. The BOJ liquidity injection is also seen as the main catalyst behind the volatile moves around the spot.  

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