Japan’s Suzuki expresses strong concern over negative effects of weakened Yen
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Japanese Finance Minister Shunichi Suzuki said on Tuesday that he has a strong concern over the negative effects of weakened Yen and he will take all necessary measures on foreign exchange (FX) as required.
Key quotes
emphasizes stability in FX movements to reflect fundamentals
opposes undesirable excessive currency fluctuations
to take all necessary measures on foreign exchange as required
expresses strong concern over negative effects of weakened yen
prioritizes wage growth above inflation
refrains from commenting on government intervention in markets
Important for currencies to move in stable manner reflecting fundamentals
is closely watching FX moves
weak yen boosts exporters' profits but it increases the burden on consumers
is more concerned about the negative impact of a weak yen
Market reaction
These comments have little to no market reaction to the Japanese Yen (JPY). At the time of writing, USD/JPY is trading 0.04% lower on the day to trade at 156.84.
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