Japan’s Suzuki expresses strong concern over negative effects of weakened Yen

FXStreet
Updated May 28, 2024 06:03
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Source: DepositPhotos

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. 

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

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