Japan’s Finance Minister Shunichi Kato said early Friday that foreign exchange rates should be set by markets, adding that excess FX volatility negatively impacts the Japanese economy.
Key quotes
Forex rates should be set by markets.
Excess FX volatility negatively impacts the economy.
Have agreed with the US to continue closely communicating on Forex at a minister level.
Will continue to exchange views with G7 countries.
Market reaction
At the time of writing, the USD/JPY pair is trading 0.48% lower on the day to trade at 143.75.
