Japan’s Aso: FX intervention is approved by the G7 and G20

Japanese finance minister Aso is back on the wires now, continuing his speech in Parliament on TPP, FX and Mnuchin.

Key Headlines via Bloomberg:

Mnuchin knows markets, can talk on that basis

Mnuchin understands its hard to include FX in trade deals

There was a request from the US on FX in TPP talks, there was no deal on FX in TPP

FX intervention is approved by the G7 and G20

A weaker USD and the Fed raising rates is a contradiction      

What is a good FX level is different depending on industry

G7 and G20 have agreed that its best if FX is set by the market