Japan’s Suzuki: Important for currencies to move in stable manner reflecting fundamentals

Market news

31 May 2024

Japan’s Suzuki: Important for currencies to move in stable manner reflecting fundamentals

Japanese Finance Minister Shunichi Suzuki said on Friday that “it is important for currencies to move in a stable manner reflecting fundamentals.”

Additional quotes

Closely watching FX moves.

Prepared to take all measures on forex.

Separately, Japan’s Prime Minister (PM) Fumio Kishida said that a “’'virtuous cycle' has already begun after this year's wage increases and record capital investment.”

“It would take about 3 years to counteract deflation mindset,” PM Kishida said.

Market reaction

USD/JPY is holding its renewed downside intact on the above comments, trading near 156.70. The pair is down 0.05% on the day, as of writing.

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