Japan fin min Suzuki says intervention late April/early May a response to specualtion

Japan finance minister Suzuki responding to the data showing hefty intervention arouund four weeks ago (late April & early May):

• Japan spent nearly ¥10 trillion on yen-tervention in the past four weeks

Suzuki:

• Forex
  intervention had certain effects
• Forex
  intervention was intended to respond to speculative moves
• Says
  will continue to respond appropriately when asked about forex
• Concerned
  that automakers’ certification irregularities could have large
  implications

USD/JPY has jumped up to around 156.40 from lows earlier around 156.00.

This article was written by Eamonn Sheridan at www.forexlive.com.