Japan finance minister Suzuki says its important for currencies to move in stable manner

More verbal waffle JPY intervention from Japan.

Suzuki declined to comment when asked about the prospects of a ‘rate check’.

What’s a ‘rate check’? Glad you asked, here you go:

  • This is when the Bank of Japan contacts FX dealers at banks and asks for a dealing level in USD/JPY. Dealers quote the Bank a two-way price, a bid, and an offer. This is a bit of a charade as everyone knows what’s going on, the BOJ is intervening by making a threat of intervention.

Suzuki and his US counterpart

This article was written by Eamonn Sheridan at www.forexlive.com. Source