Japan’s Suzuki: Weak Yen has pros and cons

==========

Japanese Finance Minister Shunichi Suzuki stated that a weak Japanese Yen (JPY) could push up import prices and have a negative impact on consumers and firms. He emphasized the need to closely watch foreign exchange (FX) moves with a high sense of urgency and to take appropriate steps to minimize the impact of a weak yen on households. Suzuki also mentioned the desirability of stable FX movements reflecting fundamentals and the analysis of the background driving FX moves. He revealed that there is a chance FX will be discussed at the upcoming G20 meeting and that he is in close communication with top currency diplomat Kanda. At the time of writing, USD/JPY is trading 0.02% lower on the day at 153.25.

#Japan #Suzuki #WeakYen #ImportPrices #Consumers #Firms #ForeignExchange #Fx #G20Meeting

https://www.fxstreet.com/news/japans-suzuki-weak-yen-has-pros-and-cons-202404120011