Japan’s Suzuki: FX stability is important, rapid moves are undesirable

Dhwani Mehta FXStreet

Japanese Finance Minister Shunichi Suzuki reiterated on Tuesday that FX stability is important and that rapid moves are undesirable.

Additional quotes

Want to respect the independence of BOJ, expects BOJ to guide policy appropriately.

Expect BOJ to steer monetary policy appropriately to achieve the 2% inflation target.

Divergence of monetary policy between Japan and the US helps cause gap in interest rates.

Won't comment to what levels we can tolerate on weak yen.

No comment on FX levels.

FX stability is important, rapid moves are undesirable.

Closely watching the impact of forex moves on Japan's economy and financial markets.

The Japanese government will respond appropriately to exchange rates while following the G7 agreement on Currencies and while keeping in close communication with the US and other authorities.

Market reaction

USD/JPY is gaining ground alongside risk appetite, as Bitcoin recaptures $30,000 level and offers some reprieve to the financial market.

The pair is currently trading at 130.35, up 0.08% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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