Japan to respond to FX moves with 'strong sense of urgency' -Finance chief | Inquirer Business

Japan to respond to FX moves with ‘strong sense of urgency’ -Finance chief

/ 11:24 AM October 27, 2023

Japan Finance Minister Shunichi Suzuki

Japanese Finance Minister Shunichi Suzuki. REUTERS/Susana Vera/File photo

TOKYO  -Japan will continue to respond to the currency market “with a strong sense of urgency,” Finance Minister Shunichi Suzuki told reporters on Friday, as the yen weakened past 150 against the U.S. dollar.

“It’s important for currencies to move stably reflecting fundamentals,” Suzuki said. “Excessive currency volatility is undesirable.”

Article continues after this advertisement

Suzuki, while repeating his usual mantra on market moves, declined to comment further when asked whether there had been any recent currency intervention.

FEATURED STORIES

The Japanese currency broke past 150 yen to the dollar this week to reach its weakest level since October last year when authorities intervened in the market to stem the weakness.

The 150 yen line is perceived by investors as a danger zone that could trigger currency intervention by Japanese authorities.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Forex, intervention, Japanese yen

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.