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.
“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.”
At the time of writing, USD/JPY is trading 0.01% lower on the day at 151.33.
