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
- 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.
Earlier jawboning out of Japan:
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