Japan’s FinMin Suzuki: Carefully watching FX impact on economy with sense of urgency

Japan’s Finance Minister Shunichi Suzuki sees no contradiction between Bank of Japan’s (BOJ) monetary policy and government efforts to cope with surging fuel cost, per Reuters.

Additional quotes

Rapid FX moves are undesirable.

Its important for currencies to move stably reflecting fundamentals.

Carefully watching FX impact on the economy with a sense of urgency.

Fx reserves are held for FX intervention in future.

To respond to Fx moves while communicating with the US and other Fx authorities.

USD/JPY renews intraday high above 129.00

Following the news, also backed by the risk-on mood, USD/JPY prices renew intraday high around 129.35.

Read: USD/JPY crosses 129.00 as yields recover ahead of US Retail Sales, Fed’s Powell