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Japan’s Suzuki: Forex level determined by market

2024-06-21FXStreetFXStreet
Japanese Finance Minister Shunichi Suzuki said on Friday that the foreign exchange (FX) rates should reflect fundamentals and he will respond appropriately to excessive FX moves.

Japanese Finance Minister Shunichi Suzuki said on Friday that the foreign exchange (FX) rates should reflect fundamentals and he will respond appropriately to excessive FX moves. 

Key quotes

Warns that increasing bond yields could strain government finances

Aims income tax cut to wipe out deflation. 

Vows to restore fiscal health with determination

FX Level Determined by Market

Currency rates should reflect fundamentals

FX stability is important

Will respond appropriately to excessive FX moves

Market reaction 

At the time of writing, USD/JPY is trading 0.11% lower on the day to trade at 156.67. 

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