Japan finance minister Suzuki says FX rate moves are driven by the market, various factors

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Syzuki often comes out with obvious statements like this. The point is not the substance its that he is making statements.

Japanese authorities are wary of rapid yen depreciations. Such comments are meant to slow, and even reverse, this.

USD/JPY has fallen back a little this week:

More from Minister Suzuki:

  • A weak yen has various impact on Japan’s economy such as exports,
    import prices
  • Current account
    balance, japan’s stance on fiscal reform also affect long-term market
    trust on yen

and from Bank of Japan Governor Ueda:

  • One of the biggest
    factors that affect market trust in yen is price stability

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