Japan’s Suzuki: Excessive and disorderly FX moves could hurt economies

Japanese Finance Minister Shunichi Suzuki said on Friday that he will work with colleagues to mitigate damage to economies from foreign exchange (FX) fluctuations, adding excessive and disorderly FX moves could hurt economies

Key quotes

To visit Seoul on June 25 to meet with South Korean counterpart.

Will communicate closely with the US, and other countries on FX based on G7 agreement that excessive, disorderly FX moves could hurt economies.

Collaborates with colleagues to mitigate damage to economies from foreign exchange fluctuations.

Don't think the US sees Japan's FX policy as problematic.

Market reaction

The Japanese Yen remains near a seven-month low against the US Dollar following the verbal intervention. At the time of writing, USD/JPY is trading 0.04% higher on the day at 159.00.