Japan finance minister Suzuki with his usual verbal intervention ( I was going to say verbal ******* but its so hard to spell)
- FX market set by various factors.
- Closely watching fx moves with a high sense of urgency.
- Aware there are some views new "Nisa" programmes causing capital flight, yen weakening.
- Refrain from commenting on stock prices.
- Day-to-day stock prices are set by market
This is generic and low impact stuff from the fin min.
USD/JPY hits a new session high above 150.30
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ps. A Nippon Individual Savings Account (NISA) is an account that is meant to help residents in Japan save money with tax-exempt benefits. The new NISA rules:
- basically provides two investment options in which people can invest up to ¥18 million in their lifetime, more than double the amount of the previous version of the program.
- the tax-exemption periods will also be permanent, as opposed to the previous five- or 20-year limit.
