Japan's Kanda declines to comment on Yellen FX intervention remarks
Japan's top currency diplomat, Masato Kanda, who will instruct the BoJ to intervene, when he judges it necessary, said on Tuesday that the Japanese government may take the necessary steps to deal with excessive market volatility, but declined to comment on US Treasury Secretary Janet Yellen's views on currency policy, per Reuters.
Key quotes
“No comment on Yellen's comments on FX.”
“Important for currencies to move in a stable manner reflecting fundamentals.”
“If there is excessive volatility in the FX market the government must take appropriate steps.”
“Won't comment on FX levels.”
Market reaction
At the time of writing, USD/JPY was trading at 154.17, adding 0.21% on the day.
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