Japan’s Suzuki: Deeply concerned about excessive, one-sided moves on forex

Japanese Finance Minister Shunichi Suzuki said on Friday that he is “deeply concerned about excessive, one-sided moves on forex. “

Additional comments

Won't comment on forex levels.

Important for currencies to move in stable manner reflecting fundamentals.

Rapid FX moves undesirable.

Deeply concerned about excessive, one-sided moves on forex.

Closely watching FX moves with a high sense of urgency.

No comment on whether current levels are excessive or not.

Believe trust in Japanese currency maintained.

Market reaction

At the time of writing, USD/JPY is extending a retreat from a new 38-year peak of 161.28, currently trading near 160.90. The pair is still up 0.10% on the day.