Japan’s Finance Minister Katsunobu Kato on Friday that he “will take appropriate action vs. excessive FX moves.”
Additional quotes
One-sided, sharp moves seen in the FX market.
It is important for FX rates to move stably, reflecting fundamentals.
Govt will scrutinise the FX market with very high vigilance, including speculative moves.
Market reaction
USD/JPY is paring back gains to trade near 156.50 following these above comments, still up 0.18% on the day.
Read the full article here