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