Japan’s Top FX Diplomat Kanda: Closely watching forex moves, will respond appropriately if necessary

Dhwani Mehta FXStreet

Following the emergency meeting between the Bank of Japan (BoJ), Ministry of Finance (MoF) and Financial Services Agency (FSA), Japan’s top currency diplomat Masato Kanda said on Tuesday that “officials are watching forex moves closely.”

Additional comments

Important for currencies to move stably reflecting economic fundamentals.

Not focusing on any forex levels specifically.

Closely watching forex moves, will respond appropriately if necessary.

Market reaction

At the time of writing, USD/JPY is bouncing back toward 140.50, reversing a dip to 104.13, still down 0.19% on the day.

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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