USD/JPY flows: Suzuki says FX rates determined by various factors

Japan's FM Suzuki says FX rates determined by various factors but this time it is not a dejavu of verbal intervention, rather an indirect response to potential questions arising from Fed's rate cut soon. Rapid movement in any direction is generally unfavorable by central banks but JPY has been significantly weakened for the past year or two, thus there maybe some room for rewind before we hear verbal intervention to slow JPY strength.

U.S. Treasury yields are higher across the curve while JGB yields lower. USD/JPY stays 0.11% higher at 144.67.