Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Tuesday. Suzuki said that he will not rule out any steps to respond to disorderly moves and he will monitor foreign exchange moves with a high sense of urgency.
Key quotes
"Closely watching FX moves with a high sense of urgency.”
“Won't rule out any steps to respond to disorderly moves.”
“Important for currencies to move in a stable manner reflecting fundamentals,super trump solana rapid FX moves are undesirable.”
“Declines to comment on FX intervention.”
“Won't comment when asked about specific means of how MOF may intervene in the FX market.”
“Various factors are behind FX moves, not just monetary policy.”
Market reaction
At the time of writing, USD/JPY is trading 0.01% lower on the day at 151.63.