BoJ on standby to deal with ‘one-sided’ currency moves

“Speculative trading seems to be the biggest factor behind recent currency moves,” Kanda said. — Reuters

TOKYO: Japan’s top currency diplomat Masato Kanda says authorities are on standby to respond to recent “one-sided, sharp” moves in the yen, escalating his warning to investors against pushing down the currency too much.

“Speculative trading seems to be the biggest factor behind recent currency moves,” Kanda, Vice-Finance Minister for International Affairs, told reporters on the yen’s declines.