Japan’s Top FX Diplomat Kanda: Concerned about one-sided sharp FX moves

Japan's top currency diplomat Masato Kanda, who will instruct the BOJ to intervene, when he judges it necessary, commented on the weaker Japanese Yen (JPY) following the Bank of Japan (BoJ) policy decision on Tuesday.

Key quotes

“Concerned about one-sided, sharp FX moves.”

“Speculative moves seem to play the biggest factor.”

“Won't rule out any steps to respond to disorderly FX moves.”

“Did not intervene in FX market last month.”

“In close contact with authorities internationally on FX.”

“FX moves affect price stability target.”
 

Market reaction

At the time of writing, USD/JPY is trading at 151.28, losing 0.24% on the day.