Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Friday. Suzuki said that he will closely watch foreign exchange moves.
Key quotes
“Daily stock market moves set by markets with various factors behind it.”
“Won’t comment on day-to-day forex levels.”
“Important for currencies to move in a stable manner reflecting fundamentals.”
“Closely watching FX moves.”
“Specific monetary policy is up to BOJ to decide.”
“Monetary policy up to BOJ to decide, govt won’t comment.”
“Expects BOJ to keep close contact with govt to guide monetary policy appropriately.”
Market reaction
At the time of writing, USD/JPY is trading 0.0q% higher on the day at 149.32.
Source: https://www.fxstreet.com/news/japans-suzuki-closely-watching-fx-rate-moves-202402090009