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Japanese Finance Minister Suzuki: Won't rule out any option, will deal appropriately with FX moves

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Japanese Finance Minister,Shunichi Suzuki,FX Moves

Japanese Finance Minister Shunichi Suzuki stated that he won't rule out any option and will deal appropriately with foreign exchange (FX) moves. He emphasized the importance of stable FX movements reflecting fundamentals and expressed concern over excessive volatility. The minister also mentioned that he is closely monitoring FX movements with a high sense of urgency.

Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Tuesday. Suzuki said that he won't rule out any option and will deal appropriately with foreign exchange moves. Key quotes “Important for FX to move stably reflecting fundamentals.” “Excess FX volatility undesirable.” “Won't rule out any option, will deal appropriately with FX moves.” “Watching FX moves carefully with a high sense of urgency.” “Won't comment on whether recent yen moves are excessive.

The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers.

 

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