Suzuki said that he won't rule out any actions to respond to excessive foreign exchange moves. He further stated that he is in constant discussion with Vice Finance Minister Kanda on FX. Key quotes “No comment on daily forex moves.” “Important for currencies to move in a stable manner, reflecting fundamentals.” “Excessive FX moves are undesirable.” “Looking at the background of Yen weakening to 152, 153 to Dollar and not necessarily at the levels themselves.
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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