Japan’s Top FX Diplomat Kanda: Watching FX market with sense of urgency

Dhwani Mehta FXStreet

Japan's top currency diplomat Masato Kanda came out with a verbal intervention to rescue the Japanese Yen after it plunged on reports that the Bank of Japan (BoJ) could leave its policy settings unchanged next week.

Key quotes

Watching FX market with a sense of urgency.

Excessive FX moves are undesirable.

Market reaction

USD/JPY trimmed gains on the above comments, trading at 141.65, at the time of writing. The spot is still up 1.18% 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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