Japan fin min Suzuki says FX stability is important, rapid moves are undesirable

Japan finance minister Suzuki

• No comment on FX levels
• FX stability is important, rapid moves are undesirable
• Closely watching the impact of forex moves on Japan's economy and fiancial markets
• The Japanese government will respond appropriately to exchange rates while following the G7 agreement on Currencies and while keeping in close communication with US and other authorities

We have had ongoing remarks from Japanese authorities similar (almost exactly the same) as the yen has declined rapidly in past weeks and months. Yen strengthened a little overnight. USD/JPY dropped from highs above 131.20 back to 130.00. Suzuki's comments are aimed here at stabilising the currency. He may need some luck with that!

jpy JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term