Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Friday. Suzuki said that the rapid foreign exchange (FX) moves are undesirable and he will monitor foreign exchange moves with a high sense of urgency.
Key quotes
“Monetary policy decision, including timing on interest rate changes are under BOD's jurisdiction.”
“Rapid FX moves are undesirable.”
“Closely watching FX moves with a high sense of urgency.”
“Important for currencies to move in a stable manner reflecting fundamentals.”
“Government hopes to joint effort with BOD to stably achieve its inflation target.”
“Won't rule out any options to deal with excessive FX moves
