- Japan’s Suzuki: Sharp, one-sided moves seen in FX market
Market news
30 June 2023
Japan’s Suzuki: Sharp, one-sided moves seen in FX market
Japanese Finance Minister Shunichi Suzuki is crossing the wires, intervening verbally after USD/JPY briefly crossed the 145.00 figure.
Key quotes
FX should move stably reflecting fundamentals.
Closely watching FX moves with great sense of urgency.
Will respond appropriately if FX moves become excessive.
Sharp, one-sided moves seen in FX market.
Yen weakness has both merit and demerit.
Current situation not positive to current policy issues.
Market reaction
USD/JPY came under renewed selling pressure and corrected nearly 30 pips to 144.75 on the above comments. The pair is trading almost unchanged on the day.
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