Japanese Finance Minister Shunichi Suzuki reiterated on Tuesday that FX stability is important and that rapid moves are undesirable.
Want to respect the independence of BOJ, expects BOJ to guide policy appropriately.
Expect BOJ to steer monetary policy appropriately to achieve the 2% inflation target.
Divergence of monetary policy between Japan and the US helps cause gap in interest rates.
Won’t comment to what levels we can tolerate on weak yen.
No comment on FX levels.
FX stability is important, rapid moves are undesirable.
Closely watching the impact of forex moves on Japan’s economy and financial markets.
The Japanese government will respond appropriately to exchange rates while following the G7 agreement on Currencies and while keeping in close communication with the US and other authorities.
The pair is currently trading at 130.35, up 0.08% on the day.