The Japanese Finance Minister, Shunichi Suzuki said on Friday that they are closely watching fx moves with a sense of urgency while working with the Bank of Japan (BOJ).
Suzuki had earlier commented about a sharp yen weakening in June and would appropriately respond to exchange market moves if necessary.
He had stated, ‘‘The government will closely liaise with the Bank of Japan while watching the exchange market and its impact on the economy and prices with an even greater sense of urgency”
The Finance Minister is however not commenting on day-to-day FX moves.
Meanwhile, the USD/JPY pair stalls its intraday decline near mid-132.00s and quickly recovers over 90 pips from a six-week low touched earlier this Friday. The pair is now trading around the 133.35-133.40 region, still down nearly 0.70% for the day.
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