Japan finance minister: To respond appropriately if FX moves turn excessive
2023.06.27 00:10
© Reuters. FILE PHOTO: Japanese Finance Minister Shunichi Suzuki speaks during the presidency press conference at the G7 meeting of finance ministers and central bank governors, at Toki Messe in Niigata, Japan, Saturday, May 13, 2023. Shuji Kajiyama/Pool via RE
TOKYO (Reuters) – Japan’s Finance Minister Shunichi Suzuki kept up verbal warnings against the yen’s depreciation on Tuesday, saying he would respond appropriately if currency moves become excessive.
Suzuki fired the latest warning shot as the dollar traded at 143.43 yen, down 0.06% from late U.S. levels. Japanese officials have sounded the alarm in recent days over rapid weakening of the currency.
The finance minister said “sharp and one-sided moves” were observed recently in the currency market.
“It was important for currencies to move stably reflecting economic fundamentals,” Suzuki told reporters after a cabinet meeting. “We will closely watch currency market moves with a strong sense of urgency and will respond appropriately if the moves become excessive.”
