Japan’s Kanda: MOF Will Take Appropriate Steps on FX as Needed

Japan’s top currency chief sought to put a floor under the yen with a barrage of warnings after US inflation data spurred a jump in the dollar overnight.

“Recent moves by the yen have been pretty rapid,” vice finance minister for international affairs Masato Kanda told reporters Wednesday. “Some of the recent rapid moves are in line with fundamentals, but some are clearly speculative. I think the latter aren’t desirable.’