Japan MOF Kanda Warns against Excessive Forex Moves

Tokyo, Sept. 20 (Jiji Press)–The Japanese monetary authorities “will not rule out any options in dealing with excessive foreign exchange fluctuations,” Vice Minister of Finance for International Affairs Masato Kanda said Wednesday.

“We’ll respond appropriately,” Kanda told reporters at the Ministry of Finance in Tokyo.

The comments came at a time when the yen has remained on a weak footing against the dollar amid expectations of a wider Japan-U.S. interest rate gap.

“We’re in very close communication with the U.S. monetary authorities and share the view that excessive volatility is undesirable,” Kanda said.

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