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Japan's Suzuki: Closely watching FX moves; will take all possible measures

Japanese Finance Minister Shunichi Suzuki reiterated on Tuesday that he is closely watching FX moves and will take all possible measures. Suzuki added that he is aware that FX is not set as an agenda item at the G20 meeting, but it may be brought up in conversation at the meeting and it is not appropriate to comment on whether FX moves too rapid or excessive.

Market Reaction:

The comments do little to provide any respite to the Japanese Yen (JPY), which remains depressed in the wake of divergent Bank of Japan (BoJ)-Federal Reserve (Fed) policy expectations. Meanwhile, the USD/JPY pair languishes near a 34-year low and holds steady above the 154.00 mark during the Asian session on Tuesday. 

Fed's Daly: Worst thing to do is act urgently when urgency isn't necessary

Federal Reserve (Fed) Bank of San Francisco President Mary Daly crossed the wires in the last hour, saying that the progress on inflation has been significant, but we are still not there yet.
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Japan's Hayashi: Prepared to take all measures on FX

Japan's Chief Cabinet Secretary Yoshimasa Hayashi is out with comments on Tuesday, saying that is important for currencies to move in a stable manner reflecting fundamentals.
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