Japan finance minister Suzuki says FX stability is important

As expected, some comments out of Japan with USD/JPY popping even higher:

• USD/JPY above 142.00, highest since November 2022

Suzuki:

• FX stability important
• Closely watching FX moves
• No comment on FX levels
• FX levels should be set by the market
• FX should move stably reflecting the fundamentals

This is low-level verbal intervention. As I also said earlier, this is the real stuff to watch for:

• The 4 phrases from Japanese officials to listen for signalling imminent yen intervention