Japan's top currency diplomat Masato Kanda, who will instruct the BOJ to intervene, when he judges it necessary, warned that he will take appropriate steps to respond to the excessive weakness of the Japanese Yen without excluding any measures.
Japan's top currency diplomat Masato Kanda, who will instruct theBOJto intervene, when he judges it necessary, warned that he will take appropriate steps to respond to the excessive weakness of the Japanese Yen without excluding any measures. Key quotes “Have been closely watching FX moves with a high sense of urgency.” “Will take appropriate steps to respond to the excessive weakness of Yen without excluding any measures.
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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