Japan’s Currency Chief Warns Against Speculative Moves in Market
- Kanda speaks with yen near October 2022 intervention mark
- Yen remains weaker against dollar despite BOJ’s rate hike
The currency has been trading around 150-151 per dollar since the Bank of Japan raised interest rates last week for the first time since 2007.
Photographer: Kentaro Takahashi/BloombergThis article is for subscribers only.
Japan’s top currency official delivered his most robust salvo of warnings in months against speculative moves in the foreign exchange market as the yen continues to hover near a 2022 intervention level.
“The current weakening of the yen is not in line with fundamentals and is clearly driven by speculation,” vice finance minister for international affairs Masato Kanda told reporters Monday. “We will take appropriate action against excessive fluctuations, without ruling out any options.”