Japan’s Top FX Diplomat Kanda: Will thoroughly respond to excessive forex moves
Jun 20, 2024 7:39 AM
Japan’s top currency diplomat Masato Kanda said on Thursday that the government “will thoroughly respond to excessive forex moves.”
Additional quotes
There is no limit for forex intervention resources.
Forex market is determined by various factors including interest rate gap.
Forex intervention announced in end of may was quite effective in responding to excessive FX moves caused by speculators.
Market reaction
The above comments fail to inspire the Japanese Yen, as USD/JPY keeps pushing higher to trading 0.09% higher to near 158.25, as of writing.
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