Japan finance minister Suzuki statements crossing the wires. USD/JPY is not too far from 1450 again so Japanese authorities are trotting out the verbal intervention attempts.

Suzuki begins with this golden oldie:

  • No comment on forex moves

And then, of course, follows up with comments on FX moves. Go figure:

  • Closely watching FXmoves with strong sense of urgency
  • Will respond appropriately against sharp fx moves
  • Important for FX to move stably reflecting econ fundamentals
  • Sharp currency moves are undesirable

Not undesirable: