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Japan finance minister Suzuki says FX stability is important

Eamonn Sheridan
20/06/2023 | 00:46 GMT

As expected, some comments out of Japan with USD/JPY popping even higher:

  • USD/JPY above 142.00, highest since November 2022

Suzuki:

  • FX stability important
  • Closely watching FX moves
  • No comment on FX levels
  • FX levels should be set by the market
  • FX should move stably reflecting the fundamentals

This is low-level verbal intervention. As I also said earlier, this is the real stuff to watch for:

  • The 4 phrases from Japanese officials to listen for signalling imminent yen intervention

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