Japan’s Suzuki: Sudden FX moves are undesirable

Japan’s Finance Minister Shunichi Suzuki is providing verbal intervention on Friday, reiterating that “sudden FX moves are undesirable.”

Further comments

Forex moves should be set by the market.

FX rates should reflect fundamentals.

Market reaction

 At the press time, USD/JPY is ranging at around 145.50, flat on the day.