Japanese Finance Minister Shunichi Suzuki said on Wednesday, they are “Ready to deal immediately in the FX market, if we think there is speculative action.”

Additional comments

Won't say when we will step in as that will be revealing our tactics to markets.

Weak yen has both positive and negative aspects.

Need to pay heed to the fact that weak yen boosts import costs.

Market reaction

At the press time, USD/JPY is recovering from daily lows at 147.18, trading at 147.54, still down 0.50% on the day.