Japan intervention guy - will continue to take appropriate action against excess FX moves

Comments out of the Japanese Ministry of Finance from the official in charge of JPY JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term intervention, Kanda.

• Won't comment on whether we intervened in the FX market
• No change in stance that we are ready to take necessary action 24-7
• Will continue to take appropriate action against excessive, disorderly market moves
• Demerits far outweigh the advantages for excessive yen weakness

---

The yen has been very weak for many, many months. Driven by divergent BOJ-Fed policy and also by deteriorating terms of trade for Japan (weak yen, high energy prices are a bit of a doom loop for it).

---

USD/JPY is already on the up this morning:

--

Kanda is the head currency official at Japan's Ministry of Finance.

In Japan it is he who will instruct the Bank of Japan to intervene when he deems necessary.