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Yen A Touch Firmer Post FinMin FX Comments

JPY

JPY hasn't seen a huge reaction to comments from FinMin Suzuki on FX moves. USD/JPY sits off session highs (140.35), last in the 140.10/15 region. Weaker US equity futures may also be helping the yen at the margins (Eminis down 0.16%, Nasdaq futures -0.23%).

  • Suzuki echoed comments that the Cabinet Secretary made yesterday, stating excessive FX moves are undesirable, and that the authorities will continue to monitor FX markets closely. He reiterated that FX levels should be decided by the market, but that it was desirable for FX rates to move stably.

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