TOKYO (Reuters) – Japan’s top currency diplomat, Masato Kanda, said on Thursday that Japan has not yet intervened in currency markets, but will “certainly” do so if necessary.
“The market is making very volatile moves,” Kanda, deputy finance minister for international affairs, told reporters. “We cannot tolerate excessive volatility and disorderly currency movements,” he said when asked about the yen’s recent fall to a fresh 24 year low.
Kanda said the Ministry of Finance (MOF) was on call to take action “at any time”, but said possible measures were not limited to intervening in yen purchases.
“In some cases, we can intervene invisibly. We haven’t intervened yet, but we are ready to act,” he said.
When asked if the authorities conduct exchange rate checks on the foreign exchange market.