Masato Kanda, Japan’s top currency ambassador, issued a warning on Thursday saying that abrupt one-sided currency movements cannot be accepted.
“From the perspectives of the people’s life and business activities, sharp, one-sided developments as observed last year are neither desired or cannot be accepted.”
“When questioned whether sudden increases in the yen require intervention, the official replied, “There’s no change to this approach from now on either.”
“In general, the BoJ seeks pricing stability, whereas we pursue currency stability.”
“With the BoJ and other central banks, we are in constant communication. But policy is autonomous in and of itself.”
Masato Kanda Statement Impact On Currency.
USD/JPY retracing back near 129.00, the Japanese currency is receiving some support from the aforementioned statements. As of this writing, the pair is trading at 129.18, down 0.31% for the day.
