JAPAN'S SUZUKI: RAPID FX MOVES UNDESIRABLE, CLOSELY WATCHING FX MOVES WITH URGENCY

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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


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