Japan’s FinMin Suzuki: Carefully watching FX impact on economy with sense of urgency

Anil Panchal FXStreet

Japan’s Finance Minister Shunichi Suzuki sees no contradiction between Bank of Japan’s (BOJ) monetary policy and government efforts to cope with surging fuel cost, per Reuters.

Additional quotes

Rapid FX moves are undesirable.

Its important for currencies to move stably reflecting fundamentals.

Carefully watching FX impact on the economy with a sense of urgency.

Fx reserves are held for FX intervention in future.

To respond to FX moves while communicating with the US and other FX authorities.

No specific comment on FX policy, when asked about FX intervention.

BOJ's policy not aimed at influencing FX moves.

USD/JPY renews intraday high above 129.00

Following the news, also backed by the risk-on mood, USD/JPY prices renew intraday high around 129.35.

Read: USD/JPY crosses 129.00 as yields recover ahead of US Retail Sales, Fed’s Powell

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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