Japan’s top currency diplomat Masato Kanda came out with a verbal intervention to rescue the Japanese Yen after it plunged on reports that the Bank of Japan (BoJ) could leave its policy settings unchanged next week.
Key quotes
Watching FX market with a sense of urgency.
Excessive FX moves are undesirable.
Market reaction
USD/JPY trimmed gains on the above comments, trading at 141.65, at the time of writing. The spot is still up 1.18% on the day.
Source: https://www.fxstreet.com/news/japans-top-fx-diplomat-kanda-watching-fx-market-with-sense-of-urgency-202307210939