Japan’s Suzuki: Closely watching how SVB case may impact Japan’s economy, financial conditions
Japanese Finance Minister Shunichi Suzuki said on Tuesday that they are “closely watching how the Silicon Valley Bank (SVB) case may impact Japan’s economy and financial conditions.”
Additional comments
Underlying financial markets show risk aversion
Striving to gather information on Silicon Valley Bank as not in a position to grasp individual US banks’ financial conditions.
Japan’s financial system remains stable as a whole.
No comment on any impact on BoJ policy.
Don’t expect big financial fallout from SVB failure on Japan’s economy, financial system.
Nothing decided yet on Japan-South Korea financial cooperation.
Market reaction
USD/JPY shrugs off these above comments, as it capitalizes from a broad US Dollar rebound amid a recovery in the US Treasury bond yields. The pair is adding 0.36% on the day to trade at 133.65, as of writing.