Japan’s Suzuki: Rapid FX moves are undesirable

Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Wednesday. Suzuki said that he will watch foreign exchange with strong urgency. 

Key quotes

“Says watching the FX market with even strong urgency.”

“Rapid FX moves are undesirable.”

“Made no comment, when asked about intervention.”

Market reaction

At the time of writing, USD/JPY is trading 0.05% lower on the day at 150.70.