June 07, 2022 - 11:27 AM 271 views
Earlier on this Tuesday, the Japanese Finance minister, Shunichi Suzuki, said, "Overabudance Forex market (FX) volatility and disorganised Forex market (FX) moves could have unfavourable impacts on the country’s economy and financial stability."
No passing comments on Forex market (FX) movements.
Quick Yen currency movements are inappropriate.
Following the G7 currency accord, Japan's government will respond appropriately to exchange rates while maintaining close communication with us and other officials.
Currency movements should be stable and reflect economic fundamentals.
No comments are willing to pass on the Bank of Japan (BoJ) Governor Kuroda’s announcement that Japan’s households are becoming more accustomed to price increases.
The Market Reaction
As the USD/JPY regains its 20-year high of around 132.70 points, Japanese officials emphasise that their vocal intervention was futile.