Japanese Finance Minister Shunichi Suzuki expresses concerns about the sharp drop in the yen recently, in his appearance on Tuesday.

Key quotes

“The yen dropping brings more demerits than merits.”

“Excessive weak yen or yen's rapid weakening can have a more negative impact but weak yen is basically positive overall.”

Market reaction

USD/JPY is trading around 127.50, fresh 20-year highs, as the monetary policy divergence between the Fed and the BOJ widens the yield differential, weighing heavily on the yen. The spot is up 0.42% on the day.