Japan’s Suzuki will watch foreign exchange moves with a high sense of urgency

Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Friday. Suzuki said that it’s important for forex rates to move in a stable direction reflecting fundamentals, and he will watch foreign exchange moves with a high sense of urgency. 

Key quotes

“BoJ’s decision to change policy could squeeze policy expenditures.”

“Won’t comment on forex levels.”

“Important for forex rates to move stable reflecting fundamentals.”

“Watching forex moves with a high sense of urgency.”

“FX rates are set by market.”

“Will take appropriate steps in fiscal management.”

“The possibility of FX intervention is the most difficult to comment.”

Market reaction

At the time of writing, USD/JPY is trading 0.11% lower on the day at 150.47.

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