Japan will take appropriate steps vs excessive yen moves - top FX diplomat
© Reuters. FILE PHOTO: Japan's vice minister of finance for international affairs, Masato Kanda, poses for a photograph during an interview with Reuters at the Finance Ministry in Tokyo, Japan January 31, 2022. Picture taken January 31, 2022. REUTERS/Issei Kato/Fil
"If currencies move too much on a single day or, say, a week, that's judged as excess volatility," Kanda said. "Our stance against excessive moves is unchanged," Kanda told reporters. He declined to comment on whether the overnight yen moves were excessive. Tokyo last intervened to buy yen in September and October last year, when the Japanese currency eventually slumped to a 32-year low of 151.94 per dollar.
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