Japan's top currency official, Masato Kanda, warns of action against excessive yen movement due to speculative trading.
Japan's top currency official, Masato Kanda, has reiterated that disproportionate currency moves will be acted upon after the yen weakened to its lowest level in three weeks. Kanda stated that appropriate steps will be needed and allowed if foreign exchange rates move excessively due to speculative trading that could harm the economy. Japan is ready to take action in the currency market "any time" to counter excessive moves in the yen, according to Kanda.
May 24, 2024
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