Japan's Kanda says watching FX market moves closely - will take steps as needed

Japan's Ministry of Finance's (MoF) Masato Kanda is its top currency official. Kanda will be the official responsible for instructing the Bank of Japan to intervene in the currency (in this case to buy the yen) if/when he deems it appropriate to do so.

Remarks crossing the wires:

• Closely watching forex market moves with a high sense of urgency and ready to take steps as needed
• US currency report describes Japan's currency policy as transparent

Japan's MoF has been expressing concerns over the rapid fall of the yen for the past months, conducting frequent verbal intervention to bolster the currency, and the occasional bout of actual yen buying to do the same.

The rapid climb in the yen overnight following the US CPI report showing a cooling rate of inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term rise will be welcome at the MoF.

• Forexlive Americas FX news wrap: Oh what a day. CPI triggers a reallocation in assets.