Japanese policymakers were, once again, on the wires overnight, bemoaning the ongoing depreciation of the Japanese yen. In a “cut and paste” reiteration of countless proclamations over the last few months, Japan’s Chief Cabinet Secretary Yoshimasa Hayashi noted that “rapid FX moves are undesirable” and that it’s “important for currencies to move in a stable manner, reflecting fundamentals.” Separately, South Korea’s Finance Ministry issued a join statement saying that the country and Japan “share concerns about recent depreciation of [their] currencies” and that “they can deploy measures to stabilize any excessive FX ... (full story)