Japan’s Suzuki: No comments on factors determining weak Yen

Declining to comment on recent remarks by an  International Monetary Fund (IMF) official on currency intervention, Japanese Finance Minister Shunichi Suzuki on Tuesday that there was no need to elaborate on what factors would determine currencies.

No further comments are crossing thr wires from the Japanese official.

The IMF official said over the weekend, “the Yen's recent declines are driven by fundamentals, criteria not met for intervention.”

Market reaction

At the time of writing, USD/JPY is holding steady at 149.50, having retreated from intraday highs of 149.65.