Japan official with verbal intervention on yen – Kanda “won’t rule out response”

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

• Seeing speculative moves in forex, speculative moves are behind the recent move
• FX rates should move
  stably
• Watching forex with
  high sense of urgency
• Won’t rule out any
  options if FX moves continue

This verbal intervention to support JPY, or at least slow its decline, coming after the surge for USD/JPY:

ICYMI:

• The clear signals to watch for imminent Bank of Japan FX yen intervention

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