Japan’s Suzuki: Important for currencies to move in stable manner, reflect fundamentals

Japanese Finance Minister Shunichi Suzuki was out with some comments in the last hour, saying that it is important for currencies to move in a stable manner and reflect fundamentals.

Additional Quotes:

Currency rates are set by various factors.
Won't comment on Forex levels.
No comment on our response to FX markets.
Hard to comment on the merit and demerit of income tax cuts as part of the economic package.

Market Reaction

The verbal intervention, however, does little to hinder the USD/JPY pair's steady intraday ascent back closer to the 150.00 psychological mark.