Japan's Kanda says watching FX market moves closely - will take steps as needed

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Japan's Kanda says watching FX market moves closely - will take steps as needed

<p>Japan's Ministry of Finance's (MoF) Masato Kanda is its top currency official. Kanda will be the official responsible for instructing the Bank of Japan to intervene in the currency (in this case to buy the yen) if/when he deems it appropriate to do so.</p><p>Remarks crossing the wires:</p><ul><li> Closely watching forex market moves with a high sense of urgency and ready to take steps as needed</li><li>US currency report describes Japan's currency policy as transparent</li></ul><p>Japan's MoF has been expressing concerns over the rapid fall of the yen for the past months, conducting frequent verbal intervention to bolster the currency, and the occasional bout of actual yen buying to do the same. </p><p>The rapid climb in the yen overnight following the US CPI report showing a cooling rate of inflation rise will be welcome at the MoF.</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-oh-what-a-day-cpi-triggers-a-reallocation-in-assets-20221110/" target="_blank" data-article-link="true">Forexlive Americas FX news wrap: Oh what a day.  CPI triggers a reallocation in assets.</a></li></ul>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Japan's Kanda says watching FX market moves closely - will take steps as needed

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