Reported 5 months ago
Japan's top currency official, Masato Kanda, stated that appropriate actions will be taken in response to excessive foreign exchange movements caused by speculative trading that could harm the economy. Kanda's remarks came after the yen weakened to its lowest level in three weeks, with suspicions of a currency intervention by Japan's finance ministry. Despite US Treasury Secretary Janet Yellen suggesting that currency intervention should be rare and well-flagged, Kanda emphasized that Japan will continue to intervene as needed. Following Kanda's comments, the yen saw a slight gain, trading around 156.90 per dollar in the evening in Europe.
Source: YAHOO