Japan’s Top FX Diplomat Kanda: Any intervention would not target forex levels but volatility

Dhwani Mehta FXStreet

Japan's top currency diplomat Masato Kanda is back on the wires in Asian trading on Wednesday, noting that “any intervention would not target forex levels but volatility.”

Key quotes

No comment on whether I discussed weak Yen with PM Kishida.

It's normal for authorities not to comment on whether they intervened or not.

Duration of excessive moves could be over one week or beyond that, when asked what constitutes excessive moves in forex market.

If one-sided moves persist for long time, that could be considered as excessive moves.

We are acting in accordance with G7, G20 agreement on forex, when asked about smoothing operations.

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Author

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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