Japan’s Chief Cabinet Secretary Kihara: Government remains concerned over speculative Fx moves
Japan’s Chief Cabinet Secretary Minoru Kihara said during the European trading session on Friday that the government is extremely concerned about speculative Forex (FX) moves and will be ready for appropriate action if needed.
Additional remarks
Government's stance is always to take appropriate action on forex.
Won't comment on forex levels, intervention.
The statement from Japan’s Chief Cabinet Secretary Kihara increases hopes of an intervention against excessive forex moves. Earlier in the day, Japan’s Finance Minister (FM) Satsuki Katayama warned that authorities could intervene in the foreign exchange (Forex) market to counter excessive volatility against the Japanese Yen (JPY).
Market reaction
No immediate response was seen in the JPY after Japan Kihara's comments. As of writing, USD/JPY trades almost flat at around 159.30.
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