Japan finance minister: To respond appropriately if FX moves turn excessive

TOKYO: Japan’s Finance Minister Shunichi Suzuki kept up verbal warnings against the yen’s depreciation on Tuesday, saying he would respond appropriately if currency moves become excessive.

Suzuki fired the latest warning shot as the dollar traded at 143.43 yen, down 0.06% from late US levels. Japanese officials have sounded the alarm in recent days over rapid weakening of the currency.

The finance minister said “sharp and one-sided moves” were observed recently in the currency market.

Japan’s finance minister says sharp forex moves are undesirable

“It was important for currencies to move stably reflecting economic fundamentals,” Suzuki told reporters after a cabinet meeting.

“We will closely watch currency market moves with a strong sense of urgency and will respond appropriately if the moves become excessive.”