Keywords used by Suzuki included:

  • rapid FX moves
  • speculative moves
  • won't rule out any steps to respond to disorderly FX

These are of a more stringent nature than the 'watching closely' sort of mumbling we usually get. These indicate we are moving closer to 'rate checks' and then actual intervention.

USD/yen update (looks dramatic but check the scale):

usdyen suzuki intervention verbal 29 March 2024 2