USD/JPY has misplaced a number of bids on the remarks from Kanda.
Kanda’s feedback are extra forceful than what we’ve been listening to final week, mentioning hypothesis, taking steps …
- Have been intently watching fx strikes with excessive sense of urgency
- Will take
applicable steps to answer extreme weak spot of yen with out
excluding any measures - Yen’s present
weak spot is because of hypothesis, not reflecting fundamentals
- Present yen weak spot doesn’t replicate fundamentals
- Yen weak spot based mostly
on speculative strikes has damaging impact on economic system - Yen weak spot from
speculative strikes will not be good underneath any circumstances
Japan’s Finance Ministry’s Vice Finance Minister for Worldwide Affairs Kanda. He’s the official who will instruct the BOJ to intervene, when he judges it obligatory. Also known as Japan’s ‘prime foreign money diplomat’.
