Japan’s Suzuki: Will continue to watch FX, price moves carefully

Dhwani Mehta FXStreet

When asked about the recent yen price movements, Japanese Finance Minister Shunichi Suzuki reiterated that they “will continue to watch FX and price moves carefully, with a sense of urgency.”

Additional quotes

Will continue to watch FX, price moves carefully, with a sense of urgency.

FX rates move on various factors not just Japan-US interest rate diffentials.

FX moves driven by markets.

G7 likely to discuss global economic challenges caused by Russia’s invasion of Ukraine.

BOJ holds jurisdiction over monetary policy, management of its operations.

BOJ is not government's subsidiary.

BOJ is buying govt bonds as part of its monetary policy effort to achieve price target.

BOJ holdings of govt bonds could fluctuate sharply depending on monetary policy decisions at the time.

Inappropriate to conduct fiscal policy on the assumption BOJ will continue to buy bonds indefinitely.

Market reaction

USD/JPY has staged a solid rebound amid a relief rally this Friday. The pair is trading at 129.14, up 0.66% on the day, having stalled its recovery at 129.35.

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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