Japan ready to act vs excessive FX moves, says currency diplomat Kanda

By Thomson Reuters May 24, 2024 | 11:10 AM

STRESA, Italy (Reuters) – Japan stands ready to take appropriate action in the currency market “any time” to counter excessive moves in the yen, its top currency diplomat Masato Kanda said on Friday.

“Under a flexible exchange-rate regime, we won’t need to intervene if currency moves are stable. But if there are excessively volatile moves that have an adverse effect on the economy, we need to take action, and doing so would be justified,” Kanda told reporters.

(Reporting by Leika Kihara; Editing by Hugh Lawson)