Japan finance minister Suzuki
- excess fx volatility , disorderly moves can hurt economy, financial stability
- told G20 Japan is deeply worried about recent sharp forex volatility
- explained that the recent yen intervention was prompted by excess moves by speculators
- cannot tolerate excess moves by speculators
- we'll respond appropriately to excess FX volatility
- other countries made no comment on Japan's intervention
- he reaffirmed previous G7 and G20 commitments on currencies
- monetary policy tightening is having an impact on the global economy
- we are not focused on levels to prompt intervention, are focused on volatility
- will take action if FX moves are speculative
These comments, using words such as 'excess', 'speculators', 'disorderly', 'sharp' are an escalation of verbal intervention.
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