Japan’s Suzuki: Closely watching FX moves with a high sense of urgency
|Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Friday. Suzuki said that he will closely monitor foreign exchange moves.
Key quotes
“Won't comment on forex levels.”
“Important for currencies to move in a stable manner reflecting fundamentals.”
“Stable moves of FX desirable.”
“Must respect the independence of BOJ.”
“Up to BOJ to decide monetary policy.”
“Closely watching FX moves with a high sense of urgency.”
“Up to BOJ to decide monetary policy including the timing of ending negative interest rates.”
“Aware there are various opinions in financial markets about the fate of negative rates.”
“Won't comment on FX intervention as doing so may affect the market.”"Weak Yen has merits and demerits."
"Concerned about negative aspect of weak Yen."
Market reaction
At the time of writing, USD/JPY is trading 0.07% higher on the day at 150.05.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.