Japanese Finance Minister Shunichi Suzuki said on Friday that he will take action against excessive currency volatility when necessary.
Japan ese Finance Minister Shunichi Suzuki saidon Friday that he will take action against excessive currency volatility when necessary and will consider the effectiveness of intervention. 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.
The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers.
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