Japan’s Kanda says ready to take action if excessive FX move seen

Masato Kanda is vice-minister for international affairs at Japan’s Ministry of Finance. He is the official who will instruct the BOJ to intervene, when he judges it necessary, and is often referred to as Japan’s ‘top currency diplomat’.

• US exchange rate list assessed against mechanical criteria
• Ready to take
  actions if excess fx move seen
• Fx intervention has
  been effective
• Don’t see problem
  after Japan added to US currency monitoring list

The list he is referring to:

• US Treasury report clears Japan of FX manipulation, but says will monitor them

Kanda spoke yesterday also:

• Japan top currency diplomat says there is no limit to FX intervention resources

USD/JPY seeing a hit to a few bids. Compared to the uprun its pretty close to a nothing move:

This article was written by Eamonn Sheridan at www.forexlive.com.