Market news
26.05.2023, 02:07

Japan’s Suzuki: FX rates should be set by market based on fundamentals

Japan Finance Minister Shunichi Suzuki said on Friday, “FX rates should be set by the market based on fundamentals.”

Additional takeaways

Japan remains world's largest net creditor nation for 32 years in row as of 2022.

Closely watching FX moves.

Closely watching US debt ceiling talks.

Won't comment in detail on assumption US may default on its debt.

There are concerns about impact on global economy if US defaulted on its debt.

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  • USD/JPY reverses pullback from yearly top near 140.00 on mixed Tokyo inflation, upbeat yields
  • BoJ’s Ueda: Targeting 5-year JGBs from 10-year JGBs is among options if needed

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