Japan’s top FX diplomat: Ready to respond vs excess currency volatility By Reuters

© Reuters. FILE PHOTO: Japan’s vice minister of finance for international affairs, Masato Kanda, poses for a photograph during an interview with Reuters at the Finance Ministry in Tokyo, Japan January 31, 2022. Picture taken January 31, 2022. REUTERS/Issei Kato/Fil

SAO PAULO (Reuters) – Japan’s top currency diplomat Masato Kanda said on Wednesday authorities were ready to take appropriate action if excessive moves were seen in the exchange-rate market.

“I won’t comment on recent currency moves. But it’s desirable for exchange rates to move stably reflecting fundamentals,” Kanda, who is vice finance minister for international affairs, told reporters on the sidelines of the G20 finance leaders’ meeting in Sao Paulo.

“We’re watching currency moves with a strong sense of urgency, and ready to respond appropriately if we see excessively volatile moves,” he said.

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