RIO DE JANEIRO :Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda both refrained from commenting on foreign exchange on Wednesday, as the yen surged to its highest level against the dollar in more than two months.
Asked about the yen’s recent sharp rise, Suzuki said he would refrain from making any comment, noting they “could give unforeseen effects on the market.”
Kanda, the vice finance minister for international affairs, repeated Suzuki’s comment about unforeseen effects when asked whether speculative moves that he had previously blamed for the yen’s weakness had waned.
Suzuki and Kanda spoke to reporters in Rio de Janeiro after meetings of finance leaders from the Group of Seven (G7) nations.
Kanda said foreign exchange was not on the G7 agenda on Wednesday.
“But we as G7 discuss the topic on a routine basis,” he said.
The yen rose more than 1 per cent on Wednesday to its highest level since May, as investors unwound short-yen positions ahead of next week’s Bank of Japan policy review when policymakers are expected to discuss a rate increase.
From: channelnewsasia
Business News
