Japan's Suzuki: Won't comment on size of intervention

In a press brief following the Japanese government's intervention in the forex market, Japanese Finance Minister Shunichi Suzuki said that they were concerned about excessive fx moves and noted that they cannot be overlooked, per Reuters.

Suzuki refrained from commenting on the size of the intervention and didn't comment on whether it was a solo act.

"We will take necessary steps against excessive moves," Suzuki reiterated. "We are always closely in touch with currency authorities of other countries."

Market reaction

USD/JPY recovered modestly after these comments and was last seen trading t 142.80, where it was still down 0.85% on a daily basis.