Japan's Kanda says officials need to respond if speculators cause excessive FX moves, Kyodo reports

By Satoshi Sugiyama

TOKYO (Reuters) - Japan's top currency diplomat Masato Kanda said on Wednesday he would have to respond if speculators cause excessive moves in the currency market and that there was no limit to how often authorities could intervene, Kyodo News reported.

"I have no choice but to respond appropriately if there are excessive moves caused by speculators," the vice finance minister for international affairs told Kyodo in an interview.

The dollar fell about 1.2% to 156.34 yen on Wednesday, with traders suspecting another round OF official buying from Tokyo, after Japanese authorities last week likely stepped in to haul the currency away from 38-year lows.

The Ministry of Finance was not immediately available for comment.

Bank of Japan data released a day earlier suggested Tokyo may have intervened to prop up the yen over two straight days last week - on Thursday and Friday - spending an estimated 6 trillion yen ($38.38 billion). The government has said it would not confirm whether authorities had intervened in the market.

Kyodo also quoted Kanda as saying that while there were various factors behind currency moves, "the biggest is speculation."



In comments that appeared to be a tacit confirmation of authorities' action, he added: "We are communicating very closely with the authorities of each country and complying with international agreements, so there has been no criticism from other countries."

($1 = 156.3300 yen)

Source: Investing.com

Останні публікації
Dollar keeps rising; euro falls to two-year low on weak data
22.11.2024 - 12:00
Asian FX muted as dollar remains at 1-yr high; yen steady as inflation rises
22.11.2024 - 07:00
Dollar rises after claims data, bitcoin continues rally
21.11.2024 - 22:00
STOXX 600 snaps four-day losing streak on energy, tech boost
21.11.2024 - 19:00
Deere's profit beat overshadows tepid 2025 outlook, shares rise
21.11.2024 - 19:00
Dollar rises after claims data, bitcoin climb continues
21.11.2024 - 18:00
Deere forecasts weak annual profit as farm incomes sag
21.11.2024 - 15:00
US indictments scythe $27 billion off value of India's Adani Group firms
21.11.2024 - 13:00
Deere forecasts annual profit below estimates as farm equipment demand slumps
21.11.2024 - 13:00
Sterling sags as 'Trump bump' lifts dollar
21.11.2024 - 13:00
STOXX 600 drops for fifth day, Nvidia drags European chip stocks
21.11.2024 - 12:00
Dollar steady near recent highs; euro suffers more weakness
21.11.2024 - 12:00
US indictments scythe $34 billion from value of India's Adani Group firms
21.11.2024 - 11:00
Dollar buffered by Trump policy expectations; bitcoin surges
21.11.2024 - 11:00
Dollar stalls as market weighs Trump policies, Fed outlook; bitcoin surges
21.11.2024 - 10:00

© Analytic DC. All Rights Reserved.

new
Аналіз ринку Як вплине завтра звіт NFP на курс долара США?