Japan to Take Appropriate Steps on Excessive FX Moves, Kanda Says
- Desirable if interventions rare but will act when needed
- Kanda warns speculators after the yen hits a three-week low
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Japan’s top currency official Masato Kanda reiterated his stance that disproportionate currency moves will be acted on after the yen weakened to the lowest level in three weeks.
“Appropriate steps will be needed and allowed if foreign exchange rates moves excessively due to speculative trading to harm the economy,” Kanda told reporters Friday in Stresa, northern Italy, where Group of Seven finance chiefs are gathering.