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Japanese judge Suzuki says his intervention in late April/early May is a response to speculation

Japanese Finance Minister Suzuki reacts to data showing massive intervention about four weeks ago (late April and early May):

  • Japan spent nearly 10 trillion yen on yen interventions over the past four weeks

Suzuki:

  • Forex intervention has had some effects
  • Forex intervention aimed to respond to speculative movements
  • Says He Will Continue To Answer Appropriately When Asked About Forex
  • Concerned that automaker certification irregularities could have significant consequences

USD/JPY has surged to around 156.40 from its previous low around 156.00.

This article was written by Eamonn Sheridan at www.forexlive.com.

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