Japan Finance Minister says it's difficult to comment on chance of FX intervention

FILE PHOTO: Examples of Japanese yen banknotes are displayed at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about a new series of banknotes scheduled to be introduced in 2024, in Tokyo, Japan, November 21, 2022.

Suzuki made the comment as the yen steadied against the dollar as it drew some support from expectations of further rate hikes from the Bank of Japan later this year and some jaw-boning efforts from Japanese government officials. The dollar was last 0.28 per cent higher against the yen at 151.655, after the Japanese currency had rallied in Asian trading and reversed some of its heavy losses in the wake of this week's BOJ policy shift.

Suzuki told reporters after a cabinet meeting that it was important for currencies to move stably reflecting fundamentals and that authorities are closely watching their moves"with a high sense of urgency.""I'll refrain from commenting on a chance of currency intervention, which is one of the hardest one to comment, as I say I won't comment on the currency market," he said.

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