Japanese Finance Minister Suzuki remarks crossing:
- concerns about expectations for global recession are rising
- closely watching FX markets with a sense of urgency
- will respond to FX moves as needed
It's the MoF (headed by Suzuki) that will instruct the Bank of Japan to intervene in the yen, should they decide to.
One of Suzuki's underlings was on the wires earlier:
There is a collective sigh of relief amongst Japanese authorities over the yen gains overnight as the US CPI cooled:
