Japan’s Kanda says concerned about sharp one-sided FX moves that negatively impact economy

Japan’s Finance Ministry’s Vice Finance Minister for International Affairs Kanda. He is the official who will instruct the BOJ to intervene, when he judges it necessary. Often referred to as Japan’s ‘top currency diplomat’.

• Says speculative forex moves seen that cannot be explained by
  fundamentals
• Concerned that
  one-sided, sharp forex moves negatively affect economy
• Authorities may or
  may not say when conducted intervention

The language used by Kanda here:

• speculative forex moves
• one-sided, sharp forex moves negatively affect economy

are escalations in rhetoric.

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Earlier jawboning out of Japan:

• Japan finance minister Suzuki has no comment on the weak yen

• Japan’s Mr Yen Kanda says concerned about one-sided sharp FX moves

• Japan’s Matsuno says rapid FX moves are undesirable

USD/JPY update, its dribbled to its day’s lows on all the talk out Japanese authorities:

This article was written by Eamonn Sheridan at www.forexlive.com. Source