Suzuki is referring to the falling yen.
'Somewhat rapid' is a very weak comment. I would have expected something more forceful after the shellacking the yen received overnight. Maybe those are still to come.
OK, here we go:
- rapid FX moves are not desirable
- recent yen moves are rather rapid and one-sided
OK, that 'one-sided comment is an escalation of rhetoric, a little more forceful in his expression of dissatisfaction with the yen selling.
More:
- FX rates should reflect fundamentals
- have strong interest whether these recent FX moves will continue
--
On that escalation in rhetoric, I posted a couple of months ago on warning signs to watch for:
From that post ... What you want to be listening out for is more specific, and it'll go very much like this, key phrases to be aware of:
we do not want to see one-sided moves in FX
we do not want to see excessive moves in FX
FX movement is not reflecting fundamentals
we will not tolerate speculative movement
The Ministry of Finance will combat excessive moves
more to come
eur
