Japan’s Suzuki: If Tokyo were to intervene, it will do so swiftly, without pause

Dhwani Mehta FXStreet

Japanese Finance Minister Shunich Suzuki is on the wires now, via Reuters, making some bold statements on a potential forex market intervention.

Key quotes

Recent yen moves have been quite sharp.

Won't rule out any options, when asked about chance of FX intervention.

No comment on whether Japan conducted rate check.

If Tokyo were to intervene, it will do so swiftly.

If Tokyo were to intervene, it will do so without pause.

Govt watching fx moves with high sense of urgency.

If yen continues to make such moves, we will take necessary action without ruling out any options.

Govt, BOJ will coordinate carefully given recent FX moves.

FX moves have been volatile over the past few days.

MOF usually won't confirm whether it intervened in the market, even after it did so.

Seperately, the country’s Economy Minister Yamagiwa said he doesn't think it is a matter he should answer, when asked whether BOJ conducted rate checks in the FX market.

Market reaction

USD/JPY showed limited reaction to the above comments, as it kept it range around 143.50, losing 0.72% 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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