Japan finance minister Suzuki is still talking, says he has no comment on FX intervention. Says confirmation of intervention could affect future action:

  • deeply concerned over the negative impact of weak yen
  • will closely watch market moves
  • will take action when needed
  • do not see an absolute line FX level we must defend, we are focused on fluctuations

He spoke earlier, as did Bank of Japan Governor Ueda:

Japan finance minister Suzuki says he is watching FX movement with a sense of urgency

Bank of Japan Governor Ueda says monetary policy does not seek to control forex rates

USD/JPY has inched higher since, knocking on the door of 155:

usdyen 156 ueda suzuki 08 May 2024 2