Japan’s Kanda: No change in our stance to take appropriate action in the foreign exchange market if necessary

Japanese Deputy Finance Minister for International Affairs Masata Kanda said on microphone:

• No change in our stance to take appropriate action in the foreign exchange market if necessary.
• Walt comments on specific steps we could take when asked about the possibility of joint foreign exchange intervention.
• I will not comment on how we assess the recent movements in USDJPY.
• They will not exclude any option for managing foreign exchange movements.
• No complainant likes the foreign exchange issue at the G7 and G20 meetings, because both do not have the global economy on the agenda, but the authorities are still in very close and regular contact.

I won’t comment, but the debates – with USDJPY trading at its highest level since 1990 – continue.

This article was written by Greg Michalowski at www.forexlive.com.

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