Suzuki of Japan is keeping a close eye on the consequences of yen depreciation.

Japanese Finance Minister Shunichi Suzuki emphasises that "the government will have a close look at how the recent fall of the Japanese Yen currency impacted the economy of Japan and prices with a sense of urgency."

April 26, 2022 - 01:31 PM 429 views

Suzuki of Japan is keeping a close eye on the consequences of yen depreciation.

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© Suzuki of Japan is keeping a close eye on the consequences of yen depreciation.

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Japanese Finance Minister Shunichi Suzuki emphasises that "the government will have a close look at how the recent fall of the Japanese Yen currency impacted the economy of Japan and prices with a sense of urgency."

The key points to be noted are: 

  • The Forex market (FX) needs to be stable.
  • Rapid movements are unfavorable.
  • There is no comment on the FX levels.
  • There is no reality to allegations of a coordinated FX intervention by Japan and the United States.
  • It's critical to have sufficient forex reserves in case of future FX intervention.

But, the Japanese former Deputy Finance Minister, Hiroshi Watanabe, in an interview with Bloomberg, said that he believes that the government currently doesn’t interfere in the foreign investment market.

The Market Reaction

Today, the USD/JPY currency pair lost 0.50% and is holding a lower low of 127.50 just below the ground.

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