Japan’s Suzuki: Will continue to watch FX, price moves carefully
|When asked about the recent yen price movements, Japanese Finance Minister Shunichi Suzuki reiterated that they “will continue to watch FX and price moves carefully, with a sense of urgency.”
Additional quotes
Will continue to watch FX, price moves carefully, with a sense of urgency.
FX rates move on various factors not just Japan-US interest rate diffentials.
FX moves driven by markets.
G7 likely to discuss global economic challenges caused by Russia’s invasion of Ukraine.
BOJ holds jurisdiction over monetary policy, management of its operations.
BOJ is not government's subsidiary.
BOJ is buying govt bonds as part of its monetary policy effort to achieve price target.
BOJ holdings of govt bonds could fluctuate sharply depending on monetary policy decisions at the time.
Inappropriate to conduct fiscal policy on the assumption BOJ will continue to buy bonds indefinitely.
Market reaction
USD/JPY has staged a solid rebound amid a relief rally this Friday. The pair is trading at 129.14, up 0.66% on the day, having stalled its recovery at 129.35.
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