Japan finance minister Suzuki trying to talk up the yen now – verbal intervention

Japan finance minister Suzuki:

• no comment on daily forex moves
• important for currencies to move in a stable manner reflecting fundamentals
• excessive FX moves undesirable
• looking at background of yen weakening to 152, 153 to dollar and not necessarily at the levels themselves
• in constant communication with Vice Finance Minister Kanda on forex
• won’t rule out any steps to respond to excessive FX moves

If anyone in the comments would like to help Suzuki out here. He wants ‘background’ on the USD/JPY to 152/153. Anyone like to explain interest rate differentials, and monetary policy divergence, to him?

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