Japan tells G20 it may need to act in FX market

  • 📰 Reuters
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Japanese Finance Minister Shunichi Suzuki said on Friday he told his G20 counterparts that Tokyo may need to take 'appropriate action' in the exchange-rate market as global monetary tightening could heighten volatility in currency moves.

Japanese Finance Minister Shunichi Suzuki arrives for a news conference during the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco, October 13, 2023. REUTERS/Susana Vera/File PhotoFinance minister repeats view excess FX volatility undesirableBOJ chief says no big change to view on global economic outlook

"I told the G20 meeting we need to be mindful of the risk that market volatility could heighten, including in the currency market, as monetary tightening continues globally," Suzuki told a news conference after attending a meeting of Group of 20 finance ministers and central bank governors. The dollar fetched 149.53 yen on Friday, not far from the 150 mark seen by traders as Tokyo's line-in-the-sand for currency intervention.

A weak yen boosts Japanese exports, but also pushes up the cost of importing fuel and raw materials, giving Tokyo policy makers a headache. Japan last intervened in the currency market to prop up the yen in September and October last year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japanese, Hong Kong stocks slump FridaySupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Source: MarketWatch - 🏆 3. / 97 Read more »