Japan’s Top FX Diplomat Kanda: Will thoroughly respond to excessive forex moves

Dhwani Mehta FXStreet

Japan’s top currency diplomat Masato Kanda said on Thursday that the government “will thoroughly respond to excessive forex moves.”

Additional quotes

There is no limit for forex intervention resources.

Forex market is determined by various factors including interest rate gap.

Forex intervention announced in end of may was quite effective in responding to excessive FX moves caused by speculators.

Market reaction

The above comments fail to inspire the Japanese Yen, as USD/JPY keeps pushing higher to trading 0.09% higher to near 158.25, as of writing.

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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