Japan fin min Suzuki again – closely watching FX market moves with strong sense of urgency

Japan finance minister Suzuki

  • Closely watching forex market moves with strong sense of urgency.
  • Will not comment on FX level.
  • Important for currencies to move stably reflecting fundamentals.
  • Made no comment, when asked about intervention.
  • Forex stability is important.

This is the third round of verbal intervention we have had out Japan today. Officials there are clearly concerned about the rapid jump in USD/JPY overnight. I’m not sure what they expect given the big surprise on the US CP{I data, higher than the highest of estimates, and the broad US appreciation right across the major FX board.

USD/JPY is barely changed, circa 150.55

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