US Treasury Sec Yellen: US stance on Japan yen intervention depends on details of situation

On Tuesday, US Treasury Secretary Janet Yellen stated that the US would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation, according to Reuters.

Key quotes

"We usually communicate with them about these interventions and generally understand the need to smooth out following undue volatility, but not to attempt to influence the level of exchange rates,"

"So it depends very much on the details in our discussions with the Japanese,”

Market reaction

USD/JPY consolidates near 147.72 following the above the report. The pair is down 0.09% on the day.