Japan finance minister Suzuki:
- no comment on daily forex moves
- important for currencies to move in a stable manner reflecting fundamentals
- excessive FX moves undesirable
- looking at background of yen weakening to 152, 153 to dollar and not necessarily at the levels themselves
- in constant communication with Vice Finance Minister Kanda on forex
- won’t rule out any steps to respond to excessive FX moves
If anyone in the comments would like to help Suzuki out here. He wants ‘background’ on the USD/JPY to 152/153. Anyone like to explain interest rate differentials, and monetary policy divergence, to him?
This article was written by Eamonn Sheridan at www.forexlive.com. Source