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Japan’s Kato: Will take appropriate action against excessive moves

Japanese Finance Minister Katsunobu Kato said on Monday, he “will take appropriate action against excessive moves.”

It is “important for currencies to move in stable manner reflecting fundamentals,” he added.

Market reaction

USD/JPY is off the highs, still holding decent gains following these comments. The pair is up 0.31% on the day to trade near 149.80, as of writing.

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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