Japan’s Suzuki says to consider the effectiveness of intervention
Trending Articles- US President Donald Trump says trade will be priority in summit with Xi, not Iran
- Gold drifts higher to near $4,750 ahead of US CPI inflation release
- Gold slumps below $4,700 on Trump rejection of Iran peace proposal
- WTI falls to near $93.50 after Israel, Iran signal an end to hostilities
- Inflation 'High Fever' Fails to Stop Rally? BTC Temporarily Loses 80,000 Mark, But Arthur Hayes Sees Peak of $126,000
- When Will the Gold Dilemma Be Resolved? Breakdown of US-Iran Negotiations Puts Gold Prices Under Pressure Again, Can It Return to $5,000?
Japanese Finance Minister Shunichi Suzuki said on Friday that he will take action against excessive currency volatility when necessary.
Key quotes
Emphasizes importance of maintaining market trust in public finances.
Drop in Japan foreign reserves as of end-May partially reflect FX intervention.
Limit FX intervention use.
To address excessive currency volatility when necessary.
Refrains from commenting on intervention funds.
Proposes limiting tax rebate to this year.
To consider effectiveness of intervention.
No fund limit for FX intervention.
Market determines FX, reflecting fundamental.
Market reaction
At the time of writing, USD/JPY is trading 0.12% higher on the day to trade at 155.80.
Read more
* 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.
