Japan's top currency diplomat, Masato Kanda, who will instruct the BoJ to intervene, when he judges it necessary, said on Monday that he will take appropriate steps if there is excessive forex move.
Japan 'stop currency diplomat, Masato Kanda, who will instruct theBoJtointervene,when he judges it necessary, said onMonday that he will take appropriate steps if there is excessive forex move. However, Kanda declined to comment if recent forex moves are excessive. Key quotes Warns of negative economic impact from excessive forex movements. To take appropriate measures if forex fluctuations are considered excessive. US FX report has no impact on Japan 's forex policy.
How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners.
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