TBILISI: Japanese Finance Minister Shunichi Suzuki said on Friday (May 3) authorities may need to smooth any excessive yen moves that hurt households and companies.
“It’s desirable for exchange rates to move stably. Excessive moves are undesirable,” as they could have adverse effects on households and firms, Suzuki told a news conference on the sidelines of the Asian Development Bank’s annual meeting.
“If there are excessive moves, we may need to smooth them out,” he added.
Suzuki declined to comment on whether current yen levels were appropriate, or whether his ministry intervened in the currency market.
The yen was poised for its biggest weekly gain in 17 months on Friday, following two bouts of suspected interventions this week to pull the currency away from 34-year lows, with the dollar losing additional ground after softer-than-expected while US jobs data.
