Japan finance minister Suzuki comments:
- Currency rates should be set by the market
- Rapid FX moves
undesirable - FX stability is
important - Won’t rule out any
options against excessive moves - No comment on
whether Japan intervened in the FX market - We are watching FX
moves very carefully
The only excess volatility we’ve had in USD/JPY has been down to Suzuki and his officials at the MoF!