Japanese Finance Minister refrains from commenting on FX intervention

Japanese Yen’s decline: Japanese Finance Minister Shunichi Suzuki refrained from providing insight into the potential for currency intervention when questioned about measures to address the yen's decline. Suzuki's comments came amid the stabilisation of the yen against the dollar, supported by anticipation of future rate increases by the Bank of Japan and verbal interventions by Japanese officials.

The dollar stood 0.28 per cent higher against the yen at 151.655, following a period of yen strength during Asian trading, which partially offset previous losses triggered by the BOJ's recent policy adjustments.

No specifics on exchange rate levels

Speaking to reporters after a cabinet meeting, Suzuki highlighted the importance of currency stability reflecting underlying economic fundamentals. He highlighted authorities' vigilant monitoring of currency movements with a heightened sense of urgency but refrained from commenting on specific exchange rate levels.

Regarding the prospect of currency intervention, Suzuki declined to offer insights, acknowledging its complexity and refraining from direct commentary on currency market dynamics.

(With Reuters inputs)