Japan’s Top FX Diplomat Kanda: Communicating with various countries including US over currencies

Anil Panchal FXStreet

Japan's top currency diplomat Masato Kanda said early Tuesday that he is communicating with various countries including the US over currencies, per Reuters.

"We are exchanging views with and communicating with authorities in other countries including our ally the United States not only on currencies, financial markets but various other issues," Kanda told reporters per Reuters.

It’s worth noting that Japan Chief Cabinet Secretary Hirokazu Matsuno and Finance Minister (FinMin) Shunichi Suzuki have also recently flagged concerns about the Asian major’s market intervention as the USD/JPY stays near the multi-month high of around 145.00.

Apart from the Japan intervention, US Treasury bond yields renew fears of recession and also weigh on the risk-barometer pair, not to forget the recently softer US data. However, the Bank of Japan’s (BoJ) defense of easy-money policy joins the recently softer Japan statistics to propel the USD/JPY pair.

Even so, the Yen pair began the week on a firmer footing with a daily gain of 0.26% while ending Monday’s North American trading session at around 144.65.

Also read: USD/JPY Price Analysis: Bears are chipping away at daily dynamic support

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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