Japan’s Suzuki won’t rule out steps to address disorderly FX moves

Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Tuesday. Suzuki said it’s important for currencies to move in a stable manner reflecting fundamentals and he will closely watch foreign exchange moves with a high sense of urgency. 

Key quotes

“Important for currencies to move in a stable manner reflecting fundamentals.”

“Rapid FX moves undesirable.”

“No comment on FX intervention.”

“Closely watching FX moves with a high sense of urgency.”

“Won’t rule out any steps to respond to disorderly FX moves.”

Market reaction

At the time of writing, USD/JPY is trading 0.05% lower on the day at 151.34.

 

Source: https://www.fxstreet.com/news/japans-suzuki-wont-rule-out-steps-to-address-disorderly-fx-moves-202403260005