Japanese Finance Minister Shunichi Suzuki saidon Friday that the foreign exchange rates should reflect fundamentals and he will respond appropriately to excessive FX moves. Key quotes Warns that increasing bond yields could strain government finances Aims income tax cut to wipe out deflation.
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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