Japanese Finance Minister Suzuki: Will keep in close contact with US, other countries on FX

Ross J Burland FXStreet

Japanese Finance Minister Suzuki said they will keep in close contact with US and other countries on FX.

Key quotes

''Have not decided yet on sources to fund an increase in defence spending, will consult with ruling parties.''

''Will keep in close contact with us, other countries on FX.''

''Don't think japan being on monitoring list in us currency report meant us cast doubt on japan's currency policy.''

''Not much change was seen in the description of Japan in the US treasury's currency report.''

Meanwhile, the Yen is correcting weaker on Friday following a drop to the low of 140.20:

The path of the US Dollar will be critical for the pair at this juncture.

Indeed, looking back over the charts, the dollar index has fallen by 3% or more three times over the last two years, only to resume its upward trend, hence Japanese officials will remains vigilant:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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