Japan's Suga says forex stability 'extremely important' By Reuters

Fed hikes by 0.25% in further downshift on tightening, but sees more hikes ahead

Japan's Suga says forex stability 'extremely important'

Economy Jun 05, 2016 11:10PM ET

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Japan's Suga says forex stability 'extremely important'

TOKYO (Reuters) - Japan's top government spokesman said on Monday that stability in the currency market was vital and that the country would take steps as needed.

"Rapid foreign-exchange moves are not desirable and stable moves are extremely important," Chief Cabinet Secretary Yoshihide Suga told a news conference.

He said that the government would monitor the currency market with a sense of urgency to prevent speculative moves from continuing and that he expected steps would be taken as necessary.

The dollar hit a one-month low of 106.35 yen after a dismal U.S. jobs report prompted investors to rule out the chance of a hike in U.S. interest rates this month.

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