Japan Finance Minister Shunichi Suzuki: No comment on IMF remarks on FX intervention

Japanese Finance Minister Shunichi Suzuki declined to comment on remarks by an IMF official about currency intervention. He stated that the recent declines in the yen are driven by fundamentals and do not warrant intervention. The IMF considers intervention justified only in certain conditions, which currently do not exist. Japan bought yen last year to boost the currency but authorities maintain that it is the speed of fluctuations, not the level, that matters for intervention.