TOKYO : Japan's top currency diplomat Masato Kanda said on Monday authorities will take appropriate steps if there are excessive forex moves, and the addition of Japan to the U.S. Treasury's foreign exchange monitoring list would not restrict their action.
FILE PHOTO: Japan's top currency diplomat Masato Kanda, poses for a photograph during an interview with Reuters at the Finance Ministry in Tokyo, Japan, Jan. 31, 2022. REUTERS/Issei Kato/File PhotoTOKYO : Japan's top currency diplomat Masato Kanda said on Monday authorities will take appropriate steps if there are excessive forex moves, and the addition of Japan to the U.S. Treasury's foreign exchange monitoring list would not restrict their action.
"We will firmly respond to moves that are too rapid or driven by speculators," he said."If no action is taken to such moves, people, companies and households would suffer." The Bank of Japan, at the behest of Japan's finance ministry, spent some 9.8 trillion yen to pull the currency out of a 34-year trough of 160.245 per dollar hit on April 29.
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