Following the towering rally in the Yen, Japanese Finance Minister Shunichi Suzuki said on Friday that he “is closely watching FX moves.”

 Suzuki added that he won't comment on the FX situation and how to respond.

USD/JPY collapsed around 500 pips on Thursday after the Bank of Japan (BoJ) Governor Kazuo Ueda discussed options for the exit from its ultra-loose policy. Markets took those comments as the clearest sign yet that the BoJ could end its negative interest rate policy earlier than previously expected.

At the time of writing, USD/JPY is losing 0.50% on the day to trade at 143.38.