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- Japan’s Suzuki: Watching impact of yen falls with a sense of urgency
Japan’s Suzuki: Watching impact of yen falls with a sense of urgency
Japanese Finance Minister Shunichi Suzuki reiterates that his government “will closely watch the impact of recent yen falls on Japan's economy and price with a sense of urgency.”
Additional quotes
FX stability important.
Rapid moves undesirable.
No comment on FX levels.
No truth to reports to Japan / US joint FX intervention.
Separately, Japanese former Deputy Finance Minister Hiroshi Watanabe said that he doesn't believe the government intends to intervene in the forex market right now while speaking in a Bloomberg interview.
Market reaction
USD/JPY is holding the lower ground just below 127.50, losing 0.50% on the day. The broad US dollar retreat combined with a cautious market mood is aiding the downside in the spot.
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