Japan’s Suzuki: Sharp, one-sided moves seen in FX market

Japanese Finance Minister Shunichi Suzuki is crossing the wires, intervening verbally after USD/JPY briefly crossed the 145.00 figure.

Key quotes

FX should move stably reflecting fundamentals.

Closely watching FX moves with great sense of urgency.

Will respond appropriately if FX moves become excessive.

Sharp, one-sided moves seen in FX market.

Yen weakness has both merit and demerit.

Current situation not positive to current policy issues.