Japan finance minister Suzuki won’t rule out any steps to respond to disorderly FX moves

Japan finance minister Suzuki

• Weak yen has pros and cons
• Weak yen could push
  up import prices and have negative impact on consumers, firms
• Rapid fx moves
  undesirable
• Closely watching fx
  moves with a high sense of urgency
• Desirable for fx to
  move stably reflecting fundamentals
• Disorderly fx moves
• In close
  communication with top currency diplomat Kanda
• We are analysing
  background of what is driving fx moves
• There is chance fx
  will be discussed at next week’s G20 meeting
• Govt hopes to take
  appropriate steps to minimise impact of weak yen on households

A discussion, to the ‘chance’ of a discussion, at the G20 would represent an escalation of the threat of intervention. Just a little.

I posted earlier on JPY intervention:

• Here’s how to pick a number for USD/JPY intervention (& also how intervention will happen)

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