Japan's finance minister sees 'speculative' moves in currency market

"We will watch currency market developments with a strong sense of urgency, and will respond appropriately against excessive moves without ruling out any options," Suzuki told parliament.

Suzuki said various factors are driving currency moves such as the Bank of Japan's decision to end negative interest rates, Japan's current account balance, price moves, geopolitical risks, as well as market players' sentiment and speculative trades. "As for the yen's recent declines, we believe there are some speculative moves that do not reflect fundamentals when taking into account domestic and overseas economic as well as price developments," he said.

The yen touched a 34-year low against the dollar of 151.975 last week and was fetching 151.315 per dollar on Monday morning. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.

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Japan Finance Minister says it's difficult to comment on chance of FX interventionTOKYO : Japanese Finance Minister Shunichi Suzuki said on Friday that it's difficult to comment on the possibility of currency intervention, when asked about the chance of such action by authorities to stem the yen's weakness.
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