Japan's opposition leader calls for more fiscal stimulus, not rate hike to cope with weak yen

others

Closely watching FX moves with a high sense of urgency – Crypto News

Published

3 years ago

February 22, 2024

Dripp

Japanese Finance Minister Shunichi Suzuki said on Thursday that he is “closely watching FX moves with a high sense of urgency.”

Additional takeaways

FX rates set by markets reflecting various factors.

Important for currencies to move in stable manner reflecting fundamentals.

There is no ‘defense line’ in FX.

Need to focus on volatility or fluctuations, when asked about weak Yen.

Market reaction

USD/JPY is unperturbed by the verbal intervention, last seen trading at 150.28, almost unchanged on the day.

Japanese Yen price today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the New Zealand Dollar.

	USD	EUR	GBP	CAD	AUD	JPY	NZD	CHF
USD		-0.14%	-0.05%	-0.12%	-0.07%	-0.04%	-0.23%	-0.11%
EUR	0.12%		0.07%	-0.02%	0.04%	0.08%	-0.10%	0.01%
GBP	0.05%	-0.07%		-0.09%	-0.03%	0.01%	-0.17%	-0.06%
CAD	0.11%	0.02%	0.09%		0.05%	0.10%	-0.09%	0.03%
AUD	0.07%	-0.06%	0.03%	-0.05%		0.05%	-0.15%	-0.04%
JPY	0.04%	-0.08%	-0.02%	-0.10%	-0.07%		-0.20%	-0.07%
NZD	0.24%	0.10%	0.18%	0.09%	0.15%	0.19%		0.12%
CHF	0.12%	-0.01%	0.06%	-0.03%	0.02%	0.07%	-0.11%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).