Japan finance minister Suzuki
- Closely watching forex market moves with strong sense of urgency.
- Will not comment on FX level.
- Important for currencies to move stably reflecting fundamentals.
- Made no comment, when asked about intervention.
- Forex stability is important.
This is the third round of verbal intervention we have had out Japan today. Officials there are clearly concerned about the rapid jump in USD/JPY overnight. I'm not sure what they expect given the big surprise on the US CP{I data, higher than the highest of estimates, and the broad US appreciation right across the major FX board.
- Verbal intervention from Japan - Kanda says recent yen moves are "rapid"
- Japan finance minister Suzuki says rapid FX moves are undesirable
USD/JPY is barely changed, circa 150.55
