Japan's peak FX official says will respond firmly to excessive forex moves

[forex4you]

Japan's peak FX official says will respond firmly to excessive forex moves

<p>Japan's Ministry of Finance's Masato Kanda is its top currency official. Kanda is the official responsible for instructing the Bank of Japan to intervene in the currency (in this case to buy the yen) when he deems it appropriate to do so.</p><ul><li>will firmly respond to excessive FX moves</li><li>each country will take appropriate response following the G7/G20 agreement on FX</li></ul><p>-</p><p>That first comment is significant, "excessive" is a keyword as explained in here:</p><ul><li><a href="https://www.forexlive.com/centralbank/heres-what-to-watch-for-to-warn-of-imminent-bank-of-japan-boj-yen-intervention-20220907/" target="_blank" data-article-link="true" class="article-link article-link">Here's what to watch for to warn of imminent Bank of Japan (BOJ) yen intervention</a></li></ul><ul><li><a href="https://www.forexlive.com/centralbank/the-4-things-to-watch-prior-to-bank-of-japan-fx-yen-intervention-20220911/" target="_blank" data-article-link="true" class="article-link article-link">The 4 things to watch prior to Bank of Japan FX yen intervention</a></li></ul><p>---</p><p>Japanese intervention to buy yen has been conducted solely by the Bank of Japan, no other central banks have joined for co-ordinated intervention. This is a problem for Japan as all its really done is provided an opportunity for speculators to but the USD/<a href="https://www.forexlive.com/terms/j/jpy/" target="_blank" id="9ad55131-b07a-4ccb-b844-eed2194cf434_1" class="terms__main-term">JPY</a> dip.</p>

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

Source: Japan's peak FX official says will respond firmly to excessive forex moves

forexlive.com