Japanese Finance Minister Suzuki speaking now about yen movement:

  • will continue to watch FX, price moves carefully, with a sense of urgency
  • FX rates move on various factors not just Japan-US interest rate diffentials
  • FX moves driven by markets

Japanese authorities will be a little happier that USD/JPY has dropped from highs above 131 a couple of weeks ago and tracked more or less sideways since. Suzuki driving home the point.