Japan’s top currency diplomat, Masato Kanda, said on Tuesday that authorities were prepared to respond “around the clock” to currency issues, but declined to comment on whether the Ministry of Finance had intervened a day earlier to support the yen. Again he declined to comment.
“It makes no difference whether you’re in London, New York or Wellington (time),” he told reporters a day after the dollar fell from a high of 160.245 yen to a low of 154.40 yen. . Traders cited it as an intervention.
Foreign Minister Kanda reiterated that the government will continue to take appropriate actions as necessary and respond to exchange rate movements in accordance with rules established by international frameworks such as the Group of Seven (G7) and the International Monetary Fund.
Japan’s currency rose as much as 5 yen against the dollar on Monday, after hitting a 34-year low earlier in the day.
The Wall Street Journal, citing people familiar with the matter, reported that Japan’s financial authorities intervened in the market.
Karita declined to comment on Monday when asked by reporters whether authorities had intervened in the currency market, but said the current developments in the currency market were “speculative, rapid and unusual” and could not be overlooked. Ta.
