TLDR:
Japan’s finance minister Suzuki is closely watching the foreign exchange moves, particularly in light of the new “Nisa” programs that may be causing capital flight and weakening the yen. Suzuki refrains from commenting on stock prices, stating that they are set by the market. The comments are seen as generic and low impact by the market. Despite this, USD/JPY hits a new session high above 150.30. The new NISA rules provide residents in Japan with tax-exempt benefits for saving money, with increased investment options and higher limits.
Japan’s finance minister, Suzuki, is closely monitoring foreign exchange moves, specifically in response to concerns about the new “Nisa” programs potentially causing capital flight and weakening the yen. Suzuki refrains from commenting on stock prices, emphasizing that they are determined by the market. Despite being viewed as generic and low impact, his comments coincide with USD/JPY reaching a new session high above 150.30. The new NISA rules offer residents tax-exempt benefits for saving money, with increased investment options and higher limits.
