Japan’s Suzuki on currency intervention: Will take necessary steps

With the unrelenting rally in USD/JPY, Japanese Finance Minister Shunichi Suzuki has returned to the wires, via Reuters, noting that they “will take necessary steps, “when asked about the chance of currency intervention.

Additional quotes

Sharp FX moves are undesirable.

Important for forex to move stably reflecting economic fundamentals.

Recent currency moves are somewhat rapid and one-sided.

Closely watching market moves with high sense of urgency.

Won't comment on what kind of steps will be taken.

Closely watching for negative impact on economy from weak yen.

Weak yen has both positives and negatives for economy but govt is now focused on steps against rising prices.