Advertisement
Singapore markets closed

  • Straits Times Index

    3,297.55
    -26.98 (-0.81%)
     

  • Nikkei

    38,814.56
    +94.09 (+0.24%)
     

  • Hang Seng

    17,941.78
    -170.85 (-0.94%)
     

  • FTSE 100

    8,146.86
    -16.81 (-0.21%)
     

  • Bitcoin USD

    65,871.77
    +236.04 (+0.36%)
     

  • CMC Crypto 200

    1,403.56
    -14.31 (-1.01%)
     

  • S&P 500

    5,431.60
    -2.14 (-0.04%)
     

  • Dow

    38,589.16
    -57.94 (-0.15%)
     

  • Nasdaq

    17,688.88
    +21.32 (+0.12%)
     

  • Gold

    2,348.40
    +30.40 (+1.31%)
     

  • Crude Oil

    78.49
    -0.13 (-0.17%)
     

  • 10-Yr Bond

    4.2130
    -0.0250 (-0.59%)
     

  • FTSE Bursa Malaysia

    1,607.32
    -2.85 (-0.18%)
     

  • Jakarta Composite Index

    6,734.83
    -96.73 (-1.42%)
     

  • PSE Index

    6,383.70
    -7.13 (-0.11%)
     

UPDATE 1-Japan may need to smooth excessive yen moves, says finmin Suzuki

Felix Light
·1-min read

(Adds Suzuki's comment, background on intervention in paragraphs 4-5)

By Felix Light

TBILISI, May 3 (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Friday 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.

ADVERTISEMENT

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 U.S. jobs data. (Reporting by Felix Light in Tbilisi and Leika Kihara in Tokyo Editing by Tomasz Janowski)