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USD/JPY A Touch Lower Post Suzuki Remarks

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USD/JPY is little changed in Friday trade, with liquidity lighter as many markets are shut for Good Friday. The pair was last in the 151.35/40 region, down slightly from earlier highs around 151.50. We are still comfortably within recent ranges.

  • FInMin Suzuki has been on the news wires a short while ago, reiterating recent comments around FX markets.
  • Again though there doesn't appear to be a step up in rhetoric compared to what has been said recently:
  • Suzuki stated: "SEE SOME SPECULATIVE MOVES IN FX MARKET", "WON'T RULE OUT ANY OPTIONS AGAINST EXCESSIVE FX MOVES" (BBG), WATCHING SPEED OF FOREX MOVES, NOT LEVEL (RTRS).
  • Earlier data showed Tokyo CPI close to expectations, headline at 2.6%, while core measures eased slightly further. The jobs market showed signs of slightly cooling.
  • Retail sales were firmer than expected, +4.6% y/y (2.9% forecast), but IP fell by -3.4%y/y, versus -2.7% projected. Some suspension in auto production weighed on IP activity in the month.
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USD/JPY is little changed in Friday trade, with liquidity lighter as many markets are shut for Good Friday. The pair was last in the 151.35/40 region, down slightly from earlier highs around 151.50. We are still comfortably within recent ranges.

  • FInMin Suzuki has been on the news wires a short while ago, reiterating recent comments around FX markets.
  • Again though there doesn't appear to be a step up in rhetoric compared to what has been said recently:
  • Suzuki stated: "SEE SOME SPECULATIVE MOVES IN FX MARKET", "WON'T RULE OUT ANY OPTIONS AGAINST EXCESSIVE FX MOVES" (BBG), WATCHING SPEED OF FOREX MOVES, NOT LEVEL (RTRS).
  • Earlier data showed Tokyo CPI close to expectations, headline at 2.6%, while core measures eased slightly further. The jobs market showed signs of slightly cooling.
  • Retail sales were firmer than expected, +4.6% y/y (2.9% forecast), but IP fell by -3.4%y/y, versus -2.7% projected. Some suspension in auto production weighed on IP activity in the month.