Japanese Fin Min Suzuki says rapid FX moves are undesirable, won’t rule out any options

Verbal intervention efforts from Japanese Finance Minister Suzuki:

• Rapid FX moves are undesirable
• Won’t rule out any options vs excessive FX moves
• Its important that FX move stably reflecting fundamentals

USD/JPY had been dropping lower prior to his comments:

These are fairly mild comments from Suzuki. Check this out:

• The clear signals to watch for imminent Bank of Japan FX yen intervention

Also, JPM say actual intervention won’t occur until around 155:

• JP Morgan forecasts USD/JPY to as high as 155 before meaningful BOJ FX intervention

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