Japan 'most certainly' will intervene in FX market if needed -top FX diplomat
Reuters
Published Sep 22, 2022 12:46AM ET
Updated Sep 22, 2022 01:06AM ET
TOKYO (Reuters) - Japan has not intervened in the currency market yet but will "most certainly" do so when necessary, the country's top currency diplomat, Masato Kanda, said on Thursday.
"Markets are making very volatile moves," Kanda, vice finance minister for international affairs, told reporters. "We cannot tolerate excess volatility and disorderly currency moves," he said when asked about the yen's recent slide to fresh 24-year lows.
Kanda said the Ministry of Finance (MOF) was on stand-by to take action "any time," though he said possible measures were not confined to yen-buying intervention.
"There are cases where we could conduct stealth intervention. We haven't intervened yet, but we're ready to take action any time," he said.
Kanda declined to comment, when asked whether authorities conducted rate checks in the foreign exchange market.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.