- Japan’s Suzuki: Rapid yen weakening has been seen recently
Market news
12 July 2022
Japan’s Suzuki: Rapid yen weakening has been seen recently
Japan Finance Minister Shunichi Suzuki is out on wires now, via Reuters, expressing concern about the falling yen, noting that it has recently been rapid.
Additional quotes
Will monitor FX closely with a strong sense of urgency.
Will take appropriate measures, if necessary, on FX.
Closely communicating with other countries FX authorities.
Meanwhile, Japan's Chief Cabinet Secretary Hirokazu Matsuno was reported as saying that attention needs to be paid to inflation causing lower spending power.
Market reaction
At the time of writing, USD/JPY is trading at 137.18, down 0.17% on the day. Risk-aversion dominates Asia, with the US dollar strongly bid and the Treasury yields extending the downside.
Market Focus
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